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7306 Neo St, Downey, CA 90241

  • $5,125,000

    •

  • —

    bed

  • —

    bath

Multi-family for sale 115 days
Movoto is helping 42 homebuyers near you

About 7306 Neo St

Property type Multi-family
Year built 1957
HOA fee $0/month
Lot size 0.3 Acre
Movoto estimate
Parking 16 garage spaces
Rental estimate
Property description
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.
Listed by
Listing Agent - Doug Rodermund
Listing Agent Contact: Dsr@morganskenderian.com
Listing Office - Morgan Skenderian
Source: CRMLS mls logo
MLS#PW26065659 • last updated 3 weeks ago
Movoto checked CRMLS for data 5 minutes ago
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Overview
Levels/Style Two
Type Residential Income
SubType Apartment
Status Active
Lot Size (Acres) 0.3006
Lot Size (SqFt) 13094
Property Tax 61135
Year Built 1957
Interior
Laundry Common Area
Exterior
Building Area Square Feet, 10524
Parking Assigned
# Uncovered Spaces 8
# Parking Spaces 24
# Garage Spaces 16
Lot Description Rectangular Lot
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Los Angeles
Community Features Curbs
Directions South Of Firestone Boulevard And West Of Old School River Road
APN 6231006008
Multifamily Details
Vacancy Allowance 11592
Expense: Trash 2530
Operating Expense 110526
Cap Rate 5.2
Expense: Insurance 4135
Total Expenses 110526
Expense: Maintenance 12000
Expense: Water/ Sewer 2530
Gross Income 10740
Gross Operating Income 374808
Expense: Electric 2530
Gross Multiplier 13.26
Gross Scheduled Income 386400
Expense: Fuel 2530
Expense: Gardener 2573
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9/10
Williams Elementary School
public Grades K-3
Downey Unified School District
7/10
Old River Elementary School
public Grades 4-5
Downey Unified School District
7/10
West Middle School
public Grades 6-8
Downey Unified School District
8/10
Warren High School
public Grades 9-12
Downey Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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Walk
94/100
Family
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Dining
97/100
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  • Real Estate
  • CA
  • Los Angeles County
  • Downey
  • 90241
  • 7306 Neo St

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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
Based on information from California Regional Multiple Listing Service, Inc. as of 7/14/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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