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Raymond Penado

Ray Penado
The RP Group

CalBRE# 01709871
Lotus Group Real Estate
8408 Florence Ave, Downey, CA 90240

562-569-8488
Email Me

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Listing 6 out of 174
$2,350,000 New Active Under Contract

8111 Stewart And Gray Road
Downey, CA 90241

10 units | Multi Family Home
14375 sq ft lot - MLS# SR17208937
Property Photo

Description

Built in 1964 by original owner, this is the first time the building has ever been listed for sale. The rents are way under market value. The seller wants to finance the loan for five years to a financially strong buyer. The seller only requires 15% down payment - no banks and no mortgage companies. Each of the ten units are two bedrooms and one bath. The building includes eleven carports and five outside parking spaces. Please do not disturb on-site manager or tenants; drive by only. The property is being sold "as is" and the seller is not making any warranties. Most of your questions about this property and how to write your offer if you log onto the website created just for this property.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active Under Contract
  • Listing Price: $2,350,000
  • Zip Code: 90241
  • Year Built: 1964
  • Stories: One
  • Units: 10 units
  • # of Parking Spaces: 16.00
  • Acres: 14375 sq ft lot
  • Zoning: DOR3-P*
  • Area: D4 - Southeast Downey, S of Firestone, E of Downey
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 9513.00
  • Building Area Units: Square Feet
  • Carport Spaces: 11.00
  • Common Walls: 2+ Common Walls
  • Community Features: Curbs, Sidewalks
  • Construction Materials: Frame, Stucco
  • Country: US
  • Directions: South of Firestone Blvd and East of Downey Ave
  • Electric Expense: 792.00
  • Flooring: Carpet
  • Fuel Expense: 956.00
  • Gardener Expense: 840.00
  • Gross Scheduled Income: 125400.00
  • Heating: Wall Heater, Yes
  • Inclusions: adonisdowney.com
  • Insurance Expense: 3003.00
  • Laundry: Yes
  • Laundry Features: Area
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CN
  • Maintenance Expense: 2545.00
  • Net Operating Income: 80560.00
  • New Taxes Expense: 29000.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Wall AC: 10
  • Number With Carpet: 10
  • Number With Disposal: 9
  • Number With Drapes: 7
  • Number With Range: 10
  • Operating Expense: 44840.00
  • Other Expense: 650.00
  • Other Expense Description: termite
  • Pest Control Expense: 2435.00
  • Property Attached: Yes
  • Roof: Flat
  • Sewer: Sewer Paid
  • Total Actual Rent: 10450.00
  • Total Expenses: 44840.00
  • Trash Expense: 3203.00
  • Uncovered Spaces: 5.00
  • Utilities: Sewer Connected, Water Connected
  • Water Sewer Expense: 1818.00
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Larry Greenberg Realty, Larry Greenberg



Raymond Penado | CalBRE # 01709871 | 562-569-8488 | Email Me
8408 Florence Ave - Downey, CA 90240
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