9231 Washburn Rd

Downey, CA 90242

$8,500,000
Last Sold Price
6
Beds
34
Baths
25,526 Sq. Ft.
$333 / Sq. Ft.
25,526
Sq. Ft.
$333
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Closed 2/19/20
Closed 2/19/20
a car parked in front of a house with a yard

Description

Welcome to Del Norte Apartments, a 33-unit apartment investment opportunity located in the exceptionally strong rental market of Downey. Del Norte Apartments is located in one of the best parts of Downey, just steps to the brand new retail, dining and entertainment hub of Downey Landing. This apartment community is comprised of 85% two and three-bedroom units with new vinyl windows, new copper plumbing, and granite countertops & tile flooring throughout. Available for the first time in 20 years,...Welcome to Del Norte Apartments, a 33-unit apartment investment opportunity located in the exceptionally strong rental market of Downey. Del Norte Apartments is located in one of the best parts of Downey, just steps to the brand new retail, dining and entertainment hub of Downey Landing. This apartment community is comprised of 85% two and three-bedroom units with new vinyl windows, new copper plumbing, and granite countertops & tile flooring throughout. Available for the first time in 20 years, Del Norte Apartments is an excellent investment opportunity to invest in a well-maintained asset in one of the best locations in the city of Downey offering a new investor tremendous upside potential. Phenomenal Downey Rental Location, 85% 2 & 3-Bedroom Units, Copper Plumbing, Vinyl Windows, Granite Countertops and Tile Flooring
  1. Listed by Doug Rodermund • DRE #01314304 • Brokerage DRE #01220368 • Morgan Skenderian

Property Details for 9231 Washburn Road

Parking Spaces Total
45
Private Pool
No
Total Units
33.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
25526
Assessor Parcel Number
6284-022-012
Property Attached YN
false
LISTING UPDATED: 02/19/2020 09:46 AM

Property Details for 9231 Washburn Road

StatusClosed
MLS #PW19232172
Days on Market81
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size1.00 AC / 43,560 SF
CountyLos Angeles County
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Location

Listing Courtesy of Morgan Skenderian, Doug Rodermund, DRE #01314304

Sold By Morgan Skenderian, Doug Rodermund, DRE #01314304

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Building Information for 9231 Washburn Road

Stories-Residences-Year Built1964Building Size-Lot Size1.00 AC / 43,560 SF

Payment Calculator

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OriginPoint Mortgage or Rocket Mortgage1

$51,242 per month

30 year fixed, 6.11% Interest

Principal and Interest

$41,252

Property Taxes

$9,990

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 9231 Washburn Road

Income / Expense / Tax Details
Income Details
  • Gross Income: $6,000
  • Gross Scheduled Income: $556,560
  • Vacancy Allowance: 16697
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $539,863
  • Net Operating Income: $362,201
  • Laundry Income: $6,000
  • Gross Multiplier: 15.36
  • Cap Rate: 4.2
  • Financing: Cash To Existing Loan
Expense Details
  • Operating Expense: $177,662
  • Operating Expense Percent: 31.90%
  • New Taxes Expense: $99,913
  • Gardener Expense: $2,400
  • Fuel Expense: $0
  • Pest Control Expense: $1,200
  • Electric Expense: $0
  • Insurance Expense: $8,535
  • Maintenance Expense: $25,000
  • Professional Management Expense: $0
  • Workmans Compensation Expense: $11,880
  • Other Expense: $23,000
  • Other Expense Description: Utility
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $177,662
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 5511.02
  • Tax Lot: 10
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 31-35 Units/Acre
  • Number Of Units: 33
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Meter on Property
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 14
  • Open Other Spaces Total: 14
  • Parking Garage Spaces: 0
  • Carport Spaces: 31
Unit Information
Unit 1
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,250
  • Unit Type Total Rent: $6,250
  • Unit Type Pro Forma: 1475
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 27
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,401
  • Unit Type Total Rent: $37,830
  • Unit Type Pro Forma: 1795
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $1,800
  • Unit Type Pro Forma: 2195
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 34
  • Number Of Separate Gas Meters: 34
  • Number Of Separate Water Meters: 1

Property History for 9231 Washburn Road

DateEvent & SourcePriceAppreciation
Feb 19, 2020

Sold

SDMLS #PW19232172

$8,500,000—
Feb 19, 2020

Sold

CLAW #PW19232172MR

$8,500,000—
Feb 19, 2020

Sold

CRMLS #PW19232172

$8,500,000—
Dec 20, 2019

Pending

CLAW #PW19232172MR

—
Dec 20, 2019

Pending

CRMLS #PW19232172

—
Dec 4, 2019

Price Change

SDMLS #PW19232172

$8,550,000—
Dec 4, 2019

Price Change

CRMLS #PW19232172

$8,550,000—
Sep 30, 2019

Listed (Active)

SDMLS #PW19232172

$8,695,000—
Sep 30, 2019

Listed (Active)

CLAW #PW19232172MR

$8,695,000—
Sep 30, 2019

Listed (Active)

CRMLS #PW19232172

$8,695,000—
DateEvent & SourcePrice
02/19/2020

Sold

SDMLS #PW19232172

$8,500,000
02/19/2020

Sold

CLAW #PW19232172MR

$8,500,000
02/19/2020

Sold

CRMLS #PW19232172

$8,500,000
12/20/2019

Pending

CLAW #PW19232172MR

—
12/20/2019

Pending

CRMLS #PW19232172

—
12/04/2019

Price Change

SDMLS #PW19232172

$8,550,000
12/04/2019

Price Change

CRMLS #PW19232172

$8,550,000
09/30/2019

Listed (Active)

SDMLS #PW19232172

$8,695,000
09/30/2019

Listed (Active)

CLAW #PW19232172MR

$8,695,000
09/30/2019

Listed (Active)

CRMLS #PW19232172

$8,695,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 9231 Washburn Road

Taxable ValueLand$3,718,395Additions$5,586,093Total$9,304,488
Tax Record2025$119,879 ($9,990 / month)
Home Facts
Total Finished SqFt25,526 SqFtAbove Grade Finished SqFt25,526 SqFtLot Size39,655 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningDOR15000*CountyLOS ANGELESAPN6284-022-012

Schools near 9231 Washburn Road

This home is within Downey Unified School District.
Rating
School
Type
Grades
Distance
Gauldin Elementary School
Public - K to 5
Doty Middle School
Public - 6 to 8
Downey High School
Public - 9 to 12
Downey Unified Virtual Academy at Lynn L. Pace Edu
Public - 7 to 10
Rating
School
Distance
Gauldin Elementary School
PublicK to 5

Doty Middle School
Public6 to 8

Downey High School
Public9 to 12

Downey Unified Virtual Academy at Lynn L. Pace Edu
Public7 to 10

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Morgan Skenderian, Doug Rodermund, DRE #01314304

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.