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$3,450,000

  • Sold
  • Closed
  • Multi-Family
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NEW Price: Now Offering a 6.34% CAP Rate! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, now aggressively priced at $3,550,000. This well-located asset features 16 1-Bed/1-Bath units plus a non-conforming studio (stand alone structure ideal for ADU conversion - check with proper city authorities), totaling 8,208 rentable square feet on an expansive 14,604 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand. Residents enjoy a full range of amenities including onsite parking, an onsite laundry facility, and a sparkling swimming pool, recently resurfaced with a new security gate being installed. Additional recent improvements include all staircases replaced for second-floor access, enhancing both safety and long-term durability. The property is now delivering a 6.34% CAP Rate and 9.84 GRM, providing improved in-place returns and stronger day-one cash flow following the price adjustment. Rare additional opportunity: The adjacent property at 11515 Old River School Rd is also available for purchase, creating a unique chance to acquire 32 units total, ideal for investors seeking scale, operational efficiency, and long-term portfolio growth in a prime Downey location. Positioned in a high-demand rental market, this offering combines improved pricing, recent capital improvements, and strong fundamentals, making it a compelling acquisition for investors focused on immediate income and long-term upside.

Full Property Details for 11523 Old River School Rd

General

  • Sold For: $3,450,000
  • Status: Closed
  • Type: Multi-Family
  • Source: MRMLS
  • MLS ID: CV26060040
  • Added to Site: 205 day(s) ago

Interior

  • Fireplace(s): None
  • Appliances: None

Rooms

Other Rooms

  • Laundry: Common Area

Additional Information

  • Pool Description: Private
  • Spa Description: None

Parking

  • Parking Features: Assigned, Asphalt
  • Parking: Assigned, Asphalt

Location

  • Area: D3 - Southwest Downey, S of Firestone, W of Downey
  • County: Los Angeles
  • Development Name: D3 - Southwest Downey, S of Firestone, W of Downey
  • Driving Directions: South of Firestone Blvd. West of Rives Ave

Heating & Cooling

  • Cooling Type: Wall/Window Unit(s)

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 16
  • # Electric Meters: 16

Structural Information

  • Roof: Flat
  • Entry Location: 1
  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 8,208
  • Year Built: 1956

Unit Information

Unit 1

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 2

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 3

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 4

  • Number of Units: 2
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 5

  • Number of Units: 2
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 6

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 7

  • Number of Units: 3
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 8

  • Number of Units: 2
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 9

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 10

  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 11

  • Total Bathrooms: 1
  • Bedrooms: 1

Lot Features

  • Property View: None
  • Lot Size (Acres): 0.3353
  • Lot Size Source: Assessor
  • Zoning: DOR3
  • Lot Description: 0-1 Unit/Acre

Financial Considerations

  • Price Per Sq. Ft.: $420.32
  • Price Per Unit: 221875

Listed and Sold by Re/Max 2000 Realty, Kristopher German

Listing agent

— 11523 Old River School Rd —

  • Kristopher German

    Re/Max 2000 Realty

909-645-0443

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 11523 Old River School Rd

School District:Downey Unified School District
NameGradesDistance
Williams Elementary School, Downey, CA
7530 Arnett Street, Downey, CA 90241
K-30.2 mi
Old River Elementary School, Downey, CA
11995 Old River School Road, Downey, CA 90242
4-50.6 mi
West Middle School
11985 Old River School Road, Downey, CA 90242
6-80.5 mi
Warren High School
8141 De Palma Street, Downey, CA 90241
9-120.9 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 11523 Old River School Rd

Date
Details
Price
Change
Source
9/24/2026
Sold
$3,450,000
-2.82%
MLS
5/22/2026
Price Reduced
$3,550,000
-3.92%
MLS
4/23/2026
Price Reduced
$3,695,000
-2.76%
MLS
3/19/2026
Listed
$3,800,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed and Sold by Re/Max 2000 Realty, Kristopher German

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Recent Sales near 11523 Old River School Rd

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11517 Old River School Rd, Downey, CA 90241 - Photo 1 Sold
$3,450,000

11517 Old River School Rd  Downey, CA 90241

  • Multi-Family
  • Closed
10538 La Reina, Downey, CA 90241 - Photo 1 Sold
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  • Multi-Family
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5027 Clara St, Cudahy, CA 90201 - Photo 1 Sold
$3,675,000

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  • Multi-Family
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9559 Flower St, Bellflower, CA 90706 - Photo 1 Sold
$3,765,000

9559 Flower St  Bellflower, CA 90706

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11523 Old River School Road, Downey, CA 90241 (MLS# CV26060040) is a Multi-Family property that was sold at $3,450,000 on September 24, 2026. Want to learn more about 11523 Old River School Road? Do you have questions about finding other Multi-Family real estate for sale in Downey? You can browse all Downey real estate or contact a Coldwell Banker agent to request more information.