Properties

Downey, CA 90241 7370 Neo Street

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Presented By: Magdy Mikhail with American Realty Associates; 949-275-2701
  • MLS# OC25168654
  • 07/22/2025
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  • Full/Half Baths • 1 / 1
  • SQFT • 11,344

Home Details

Prime Investment Opportunity in the Heart of Downey Welcome to 7370 Neo Street, a well-maintained multifamily gem located in one of Downeyโ€™s most desirable residential neighborhoods. This income-producing property features 14 spacious units, each offering comfortable layouts, private entrances, and dedicated parking. Nestled on a 13,068 sf lot, the property provides a rare combination of location, stability, and upside potential. 10 units are 2-bed, 1.5-bath and 4 units are 3-bed, 1.5 bath, and several have been recently updated with modern finishes, upgraded kitchens, newer flooring, and refreshed bathrooms (see interior pics). On-site amenities include [laundry facilities, carports, private yards, 14 parking spaces. Tenants enjoy walking distance to local schools, shopping centers, restaurants, and close to the 105, 605, and 5 freewaysโ€”making this a prime location for commuters and families alike. With strong rental income, long-term tenants, and potential for increased cash flow, 7370 Neo Street is ideal for investors seeking solid returns in a low-vacancy, high-demand rental market. Whether youโ€™re expanding your portfolio or making your first multifamily acquisition, this property delivers. Donโ€™t miss your chance to own a rare multifamily opportunity in one of Southeast LA Countyโ€™s most stable and sought-after submarkets!
Presented By: Magdy Mikhail with American Realty Associates; 949-275-2701

Interior Features for 7370 Neo Street

Other Interior Features

Air Conditioning Y/NYes
Common Walls2+ Common Walls
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommon Area
Total Stories2

Other Rooms

Entry Level1

General for 7370 Neo Street

Additional Parcels Y/NNo
AppliancesBuilt-In Range, Electric Oven, Electric Range, Disposal
Building Area UnitsSquare Feet
Cap Rate6.2
Carport Spaces4
Carport Y/NYes
CityDowney
Community FeaturesSuburban, Pool
CoolingWall/Window Unit(s)
CountyLos Angeles
DirectionsOld River School Road and Firestone blvd
Electric Expense2282
Entry LocationFront Gate
Fuel Expense25
Garage Spaces
Garage Y/NNo
Gross Income353822
HOANo
HOA Fee$
HeatingForced Air
Insurance Expense3500
Land Lease Y/NNo
LevelsTwo
Listing TermsCash, Cash to New Loan, Conventional, 1031 Exchange
Lot Size Square Feet13230
Lot Size UnitsSquare Feet
MLS AreaD2 - Northwest Downey, N of Firestone, W of Downey
MaintenanceExpense249
Net Operating Income285165
New ConstructionNo
Number Of Units Total14
Number of Units Leased14
Open Parking Spaces10
Operating Expense68656
Pool FeaturesCommunity
PossessionClose Of Escrow
PostalCityDOWNEY
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidential Income
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublic Sewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count2
Tax Lot4
Tenant PaysParking Fee
Total Actual Rent353822
Trash Expense5058
Virtual TourClick here
Water Sewer Expense2075
Year Built1957
Year Built SourceEstimated
ZoningDOR3*

Exterior for 7370 Neo Street

Building Area Total11344
Lot Features11-15 Units/Acre
Lot Size Acres0.3037
Lot Size Area13230
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters1
Number of Separate Gas Meters1
Number of Separate Water Meters1
Parking FeaturesAssigned, Carport
Private PoolNo
Total Parking14
Water SourcePublic

Additional Details

Price History

Schools

High School Hubert H Humphrey Middle School
Middle School N/A
Elementary School Big Hollow Elementary School

Connect Realty

Price $4,999,995
MLS#OC25168654
List Date 07/22/2025
Property Type Multi-Family
Phone 888.795.6274
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