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Twin Palms 7306-7312 Neo St 16 Unit Apartment Building $5,125,000 ($320,313/Unit) 5.16% Cap Rate Downey, CA 90241
Investment Highlights
- Great Mix of 1, 2 & 3-Bedroom Units
- Garage Parking
- Sought-After Downey Rental Market
- Completely Renovated Inside and Out
- Copper Plumbing & SB721 Compliant
- Not Subject to Municipal Rent Control
Executive Summary
Introducing Twin Palms at 7306-7312 Neo Street, a prime investment opportunity in Downey, CA. This ±10,524 SF building, constructed in 1957, comprises (16) immaculately renovated units, offering an attractive mix of 1, 2, and 3-bedroom layouts. With garage parking, copper plumbing, and SB721 compliance, Twin Palms provides investor peace of mind and a sought-after option in the vibrant Downey rental market. Notably, it is not subject to municipal rent control, adding further appeal. This property presents an excellent opportunity for a multifamily investor seeking a lucrative addition to their portfolio. Additionally, the property features a laundry facility, a charming courtyard, and is conveniently located in close proximity to major employment centers and freeways, enhancing its appeal as a valuable investment in the thriving Downey area.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$375,660
|
$35.70
|
| Other Income |
$10,740
|
$1.02
|
| Vacancy Loss |
$11,592
|
$1.10
|
| Effective Gross Income |
$374,808
|
$35.61
|
| Taxes |
$65,270
|
$6.20
|
| Operating Expenses |
$45,256
|
$4.30
|
| Total Expenses |
$110,526
|
$10.50
|
| Net Operating Income |
$264,282
|
$25.11
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $375,660 |
| Annual Per SF | $35.70 |
| Other Income | |
|---|---|
| Annual | $10,740 |
| Annual Per SF | $1.02 |
| Vacancy Loss | |
|---|---|
| Annual | $11,592 |
| Annual Per SF | $1.10 |
| Effective Gross Income | |
|---|---|
| Annual | $374,808 |
| Annual Per SF | $35.61 |
| Taxes | |
|---|---|
| Annual | $65,270 |
| Annual Per SF | $6.20 |
| Operating Expenses | |
|---|---|
| Annual | $45,256 |
| Annual Per SF | $4.30 |
| Total Expenses | |
|---|---|
| Annual | $110,526 |
| Annual Per SF | $10.50 |
| Net Operating Income | |
|---|---|
| Annual | $264,282 |
| Annual Per SF | $25.11 |
Property Facts
| Price | $5,125,000 | Apartment Style | Low-Rise |
| Price Per Unit | $320,313 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 5.16% | Building Size | 10,524 SF |
| Gross Rent Multiplier | 13.26 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.52/1,000 SF |
| Price | $5,125,000 |
| Price Per Unit | $320,313 |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| Gross Rent Multiplier | 13.26 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.30 AC |
| Building Size | 10,524 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1957 |
| Parking Ratio | 1.52/1,000 SF |
Amenities
Unit Amenities
- Balcony
- Heating
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,832 | 500 |
| 2+1 | 2 | $2,056 | 850 |
| 3+1 | 2 | $2,603 | 1,000 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 6231-006-008 | Total Assessment | $4,303,198 |
| Land Assessment | $1,591,812 | Annual Taxes | $65,270 ($6.20/SF) |
| Improvements Assessment | $2,711,386 | Tax Year | 2025 |
Property Taxes
Parcel Number
6231-006-008
Land Assessment
$1,591,812
Improvements Assessment
$2,711,386
Total Assessment
$4,303,198
Annual Taxes
$65,270 ($6.20/SF)
Tax Year
2025
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Twin Palms | 7306-7312 Neo St
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