Multifamily
The Jade
11118 Newville Ave, Downey, CA 90241
Listing Price: $1,800,000
Investment Overview
Marcus & Millichap is pleased to present for sale “The Jade” Apartments a 6-unit multifamily property located in Downey California. Situated on 6,969 square feet of land, the property is only .6 miles from Stonewood Center one of Downey’s largest employers. Discreetly positioned next to Rio San Gabriel Park, the property offers its resident covered parking with on-site laundry facilities.
This six-unit gem has been well maintained through the years and features upgraded flooring, quartz countertops, new blind and new windows. Additionally, the units are large and spacious averaging over 1,000 per residence. With a balcony or private patio provided for every unit the property has tremendous upside potential. In fact, current rents are more than 28% below market levels.
Downey is home to Boeing Company, Kaiser Permanente, PIH Health to name few. Moreover, 54% of all residents are between ages 25-64 with an average annual household income of $75,974 per year. A savvy investor could seize the opportunity to acquire a well-located asset with tremendous upside potential in an area bolstered by strong investment fundamentals and continued growth trends.
Investment Highlights
- Excellent Diverse unit mix of One, Two & 3-Bedroom Units each with its own Private Patio or Balcony.
- Over 28% Upside in Rental Income.
- Downey Residents have a Median House Income of $75,974 up .13% from last year.
- 54% of Downey Residents are between ages 25-64 provide a very strong Renter Pool.
- On-site Laundry facilities primed to Maximize Income Stream.
- Spacious units averaging over 1,000 square feet Per Unit.
- Boasting a 73 WalkScore allowing residents the ability to accomplish most errands on foot.
- Located .6 Miles from Stonewood Center – One of Downey's largest employers.
Exclusively Listed By
Listing Price: $1,800,000
Investment Highlights
- Excellent Diverse unit mix of One, Two & 3-Bedroom Units each with its own Private Patio or Balcony.
- Over 28% Upside in Rental Income.
- Downey Residents have a Median House Income of $75,974 up .13% from last year.
- 54% of Downey Residents are between ages 25-64 provide a very strong Renter Pool.
- On-site Laundry facilities primed to Maximize Income Stream.
- Spacious units averaging over 1,000 square feet Per Unit.
- Boasting a 73 WalkScore allowing residents the ability to accomplish most errands on foot.
- Located .6 Miles from Stonewood Center – One of Downey's largest employers.
Investment Overview
Marcus & Millichap is pleased to present for sale “The Jade” Apartments a 6-unit multifamily property located in Downey California. Situated on 6,969 square feet of land, the property is only .6 miles from Stonewood Center one of Downey’s largest employers. Discreetly positioned next to Rio San Gabriel Park, the property offers its resident covered parking with on-site laundry facilities. This six-unit gem has been well maintained through the years and features upgraded flooring, quartz countertops, new blind and new windows. Additionally, the units are large and spacious averaging over 1,000 per residence. With a balcony or private patio provided for every unit the property has tremendous upside potential. In fact, current rents are more than 28% below market levels. Downey is home to Boeing Company, Kaiser Permanente, PIH Health to name few. Moreover, 54% of all residents are between ages 25-64 with an average annual household income of $75,974 per year. A savvy investor could seize the opportunity to acquire a well-located asset with tremendous upside potential in an area bolstered by strong investment fundamentals and continued growth trends.