8127 Stewart And Gray Road

Downey, CA 90241

$4,400,000
Last Sold Price
6
Beds
18
Baths
10,929 Sq. Ft.
$403 / Sq. Ft.
10,929
Sq. Ft.
$403
per Sq. Ft.

Description

We are pleased to present Downey Palms, a 16-unit apartment community, located in Downey, CA. At a 4% CAP rate on current income, and with approximately 30% upside on rents, this property is priced under recent & relevant sales comps. The building is composed of a studio, 1-bedrooms (13), a 2-bedroom, and a large 3-bedroom 2.5-bath. The units feature A/C wall units, ceiling fans, laminate wood floors (some units), and gas cooking. The property presents a leased laundry facility, a combination of...We are pleased to present Downey Palms, a 16-unit apartment community, located in Downey, CA. At a 4% CAP rate on current income, and with approximately 30% upside on rents, this property is priced under recent & relevant sales comps. The building is composed of a studio, 1-bedrooms (13), a 2-bedroom, and a large 3-bedroom 2.5-bath. The units feature A/C wall units, ceiling fans, laminate wood floors (some units), and gas cooking. The property presents a leased laundry facility, a combination of tuck under and open parking, a partially replaced roof, individual gas and electric meters, and copper plumbing. With approximately 35% upside in rental income, an investor will achieve well-over a 5% cap rate once they stabilize the asset.
  1. Listed by Chris Keramati • DRE #01702116 • Brokerage DRE #01921625 • Triqor Group

Property Details for 8127 Stewart And Gray Road

Parking Spaces Total
19
Private Pool
No
Total Units
16.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
10929
Assessor Parcel Number
6255-019-003
Property Attached YN
true

Location

Listing Courtesy of Triqor Group, Chris Keramati, DRE #01702116

Sold By Triqor Group, Chris Keramati, DRE #01702116

Add your commute
LISTING UPDATED: 10/31/2022 03:13 AM

Property Details for 8127 Stewart And Gray Road

StatusClosed
MLS #PW22093167
Days on Market78
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.45 AC / 19,469 SF
CountyLos Angeles County

Location

Listing Courtesy of Triqor Group, Chris Keramati, DRE #01702116

Sold By Triqor Group, Chris Keramati, DRE #01702116

Add your commute

Building Information for 8127 Stewart And Gray Road

Stories-Residences-Year Built1964Building Size-Lot Size0.45 AC / 19,469 SF

Payment Calculator

$28,681 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,013

Property Taxes

$4,668

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8127 Stewart And Gray Road

Income / Expense / Tax Details
Income Details
  • Gross Income: $286,644
  • Gross Scheduled Income: $286,644
  • Net Operating Income: $176,918
  • Cap Rate: 4.0
  • Financing: Conventional
Expense Details
  • Operating Expense: $101,126
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $101,126
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 5513.00
  • CFD/Mello-Roos Fee: $3,642
  • Tax Lot: 0
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 16
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,200
  • Unit Type Total Rent: $1,200
  • Unit Type Pro Forma: 1700
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 13
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,428
  • Unit Type Total Rent: $18,564
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,920
  • Unit Type Total Rent: $1,920
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 3
Unit 4
  • 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 Actual Rent: $2,010
  • Unit Type Total Rent: $2,010
  • Unit Type Pro Forma: 2600
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 0

Property History for 8127 Stewart And Gray Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 8127 Stewart And Gray Road

Taxable ValueLand$2,700,000Additions$1,703,180Total$4,403,180
Tax Record2023$56,014 ($4,668 / month)
Home Facts
Total Finished SqFt10,929 SqFtAbove Grade Finished SqFt10,929 SqFtLot Size19,469 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningDOR3-P*CountyLOS ANGELESAPN6255-019-003

Schools near 8127 Stewart And Gray Road

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.

Similar Homes

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Similar Sold Homes

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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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Triqor Group, Chris Keramati, DRE #01702116

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.