7375-7385 Emily Lane

Downey, CA 90242

$3,025,000
Last Sold Price
3
Beds
16
Baths
10,200 Sq. Ft.
$297 / Sq. Ft.
10,200
Sq. Ft.
$297
per Sq. Ft.

Description

An excellent opportunity to acquire a 16-unit multifamily building in Downey, CA. Located at 7375-7385 Emily Ln, this multifamily asset was built in 1958. It offers twelve 1 bed, 1 bath units and four 2 bed, 1 bath units. Residents of the property enjoy gated off-street parking, as well as a central courtyard and two on-site laundry rooms. The buildings boast a total of 10,200 gross rentable square feet spread across two separate parcels with aggregate lot square footage of 15,034. The property is...An excellent opportunity to acquire a 16-unit multifamily building in Downey, CA. Located at 7375-7385 Emily Ln, this multifamily asset was built in 1958. It offers twelve 1 bed, 1 bath units and four 2 bed, 1 bath units. Residents of the property enjoy gated off-street parking, as well as a central courtyard and two on-site laundry rooms. The buildings boast a total of 10,200 gross rentable square feet spread across two separate parcels with aggregate lot square footage of 15,034. The property is within walking distance of restaurants on Imperial Hwy, the Rancho Los Amigos National Rehabilitation Center and Los Amigos Golf Course. With more than 50% upside potential in rental income, it is the perfect opportunity for an investor to add value and achieve an exceptional return.
  1. Listed by Justin White • DRE #01267826 • Brokerage DRE #01267826 • Justin White • thesbgbp@gmail.com

Property Details for 7375-7385 Emily Lane

Parking Spaces Total
0
Private Pool
No
Cooling Type
Electric, Wall/Window Unit(s)
Total Units
16.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
10200
Assessor Parcel Number
6233-036-007
LISTING UPDATED: 10/01/2024 07:36 AM

Property Details for 7375-7385 Emily Lane

StatusClosed
MLS #PW24088444
Days on Market111
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1958
Lot Size0.35 AC / 15,034 SF
CountyLos Angeles County

Building Information for 7375-7385 Emily Lane

Stories2Residences-Year Built1958Building Size-Lot Size0.35 AC / 15,034 SF

Property Information for 7375-7385 Emily Lane

Income / Expense / Tax Details
Income Details
  • Gross Income: $274,667
  • Gross Scheduled Income: $281,367
  • Net Operating Income: $166,646
  • Gross Multiplier: 12.44
  • Cap Rate: 4.76
  • Financing: Conventional
Expense Details
  • Operating Expense: $112,012
  • Operating Expense Percent: 44.00%
  • New Taxes Expense: $43,750
  • Fuel Expense: $4,783
  • Electric Expense: $1,350
  • Insurance Expense: $8,670
  • Maintenance Expense: $10,400
  • Professional Management Expense: $16,882
  • Other Expense: $13,441
  • Other Expense Description: Reserves
  • Trash Expense: $4,507
  • Water Sewer Expense: $2,495
  • Total Expenses: $106,279
Tax / Assessment Info
  • Tax Tract Number: -
  • Tax Lot: -
Community / Development
Community / Development
  • Community Features: Golf, Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
  • Cooling: Electric, Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Roof: Flat
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre, Walkstreet
  • Number Of Units: 16
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Frontage Type: City Street
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Carport
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Carport
Unit Information
Unit 1
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,316
  • Unit Type Total Rent: $15,792
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,358
  • Unit Type Total Rent: $5,432
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 2

Property History for 7375-7385 Emily Lane

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 7375-7385 Emily Lane

This home is within Downey Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 3
Public - 4 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Imperial Elementary School
PublicK to 3

Old River Elementary School
Public4 to 5

West Middle School
Public6 to 8

Warren High School
Public9 to 12

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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Listing Courtesy of Justin White, Justin White, DRE #01267826

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.