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Two Detached Homes on 12,016 SF Lot in Downey 8118 Alameda St 2 Unit Apartment Building $1,587,800 ($793,900/Unit) 3.38% Cap Rate Downey, CA 90242
Investment Highlights
- Two Detached Homes on One Lot
- 4,264 Sqft Building on 12,016 Sqft Lot
- Private 2-Car Garages & Central Air
- (1) 5 Bed/2 Bath (1) 2 Bed/2 Bath
- Built in 1988
- Ample Parking in Downey
Executive Summary
Exceptional opportunity to own a newer construction duplex featuring two detached homes on one large lot in a prime location in Downey. Built in 1988, this well-maintained property offers approximately 4,264 sqft of living space situated on an expansive 12,016 sqft lot. The front unit features 5 bedrooms and 2 bathrooms, while the rear unit offers 2 bedrooms and 2 bathrooms, creating an ideal setup for owner-users, multigenerational living, or investors seeking strong rental potential. Each unit includes its own private 2-car garage, central air conditioning, and functional layouts designed for comfortable living. The oversized lot also provides ample parking and excellent utility, all conveniently located near shopping, dining, schools, and major freeway access. Rare opportunity to acquire a large income-producing property in a desirable Downey neighborhood.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$88,140
|
$20.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,644
|
$0.62
|
| Effective Gross Income |
$85,496
|
$20.05
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$31,890
|
$7.48
|
| Net Operating Income |
$53,606
|
$12.57
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $88,140 |
| Annual Per SF | $20.67 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,644 |
| Annual Per SF | $0.62 |
| Effective Gross Income | |
|---|---|
| Annual | $85,496 |
| Annual Per SF | $20.05 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $31,890 |
| Annual Per SF | $7.48 |
| Net Operating Income | |
|---|---|
| Annual | $53,606 |
| Annual Per SF | $12.57 |
Property Facts
| Price | $1,587,800 | Property Subtype | Apartment |
| Price Per Unit | $793,900 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 3.38% | Building Size | 4,264 SF |
| Gross Rent Multiplier | 18.01 | No. Stories | 2 |
| No. Units | 2 | Year Built | 1988 |
| Property Type | Multifamily | Parking Ratio | 0.47/1,000 SF |
| Zoning | DOR15000* - Restricted Density Multiple Dwelling | ||
| Price | $1,587,800 |
| Price Per Unit | $793,900 |
| Sale Type | Investment |
| Cap Rate | 3.38% |
| Gross Rent Multiplier | 18.01 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 4,264 SF |
| No. Stories | 2 |
| Year Built | 1988 |
| Parking Ratio | 0.47/1,000 SF |
| Zoning | DOR15000* - Restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 5+2 | 1 | $4,982 | - |
| 2+2 | 1 | $2,991 | - |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 6259-007-053 | Improvements Assessment | $636,724 |
| Land Assessment | $636,724 | Total Assessment | $1,273,448 |
Property Taxes
Parcel Number
6259-007-053
Land Assessment
$636,724
Improvements Assessment
$636,724
Total Assessment
$1,273,448
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