7306 Neo Street Downey, CA ^$ 5,125,000

7306 Neo Street

^$ 5,125,000

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Recently Listed

7306 Neo Street

Downey, CA, 90241

^$ 5,125,000

Studio Baths1.0 Sq 10,524

Monthly Estimate*

^$ 31,556

Listed by Morgan Skenderian

7306 Neo Street, Downey, CA 90241 - Image 1

7306 Neo Street, Downey, CA 90241 - Image 2

7306 Neo Street, Downey, CA 90241 - Image 3

7306 Neo Street, Downey, CA 90241 - Image 4

7306 Neo Street, Downey, CA 90241 - Image 5

7306 Neo Street, Downey, CA 90241 - Image 6

7306 Neo Street, Downey, CA 90241 - Image 7

7306 Neo Street, Downey, CA 90241 - Image 8

7306 Neo Street, Downey, CA 90241 - Image 9

7306 Neo Street, Downey, CA 90241 - Image 10

7306 Neo Street, Downey, CA 90241 - Image 11

7306 Neo Street, Downey, CA 90241 - Image 12

Studio

Multi-Family Home for sale in Downey, CA

for $5,125,000 with 1 full bath. This 10,524 square foot home was built in 1957 on a lot size of 0.3006.

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.

Multi-Family Active

Price

^$ 5,125,000

Bedrooms

Studio

Full Bath

Property Type

Multi-Family

Taxes

^$ 61,135

Style

Lot Size

0.3006

Year Built

1957

Town/City

Downey

County/Region

Los Angeles

MLS | Web ID

PW26065659

Days on Market

Features

General

Sewer Public Sewer

Garage Spaces 16

Pool Features None

Year Built 1957

Stories Count 2

Levels Two

Property Subtype Apartment

Gross Income 10740

Community Features Curbs

County Los Angeles

Net Operating Income 264281

Operating Expense 110526

Insurance Expense 4135

New Construction false

Property Type Residential Income

MaintenanceExpense 12000

Garage Y/N true

Special Listing Conditions Standard

Status Active

Directions South of Firestone Boulevard and West of Old School River Road

City Downey

Entry Location 1

Senior Community Y/N false

Open Parking Spaces 8

Number Of Units Total 16

MLS Area 699 - Not Defined

Lot Size Units Square Feet

Lot Size Square Feet 13094

Listing Terms Cash Cash to New Loan Conventional 1031 Exchange

Property Attached Y/N true

Land Lease Y/N false

Tax Annual Amount 61135

Electric Expense 2530

Fuel Expense 2530

Trash Expense 2530

Water Sewer Expense 2530

Additional Parcels Y/N false

Rent Control Y/N true

Building Area Units Square Feet

Standard Status Active

Year Built Source Assessor

Tax Lot 16

Property Sub Type Additional Apartment

Taxes 65270

Cap Rate 5.2

Interior

Total Stories 2

Common Walls 2+ Common Walls

Laundry Features Common Area

Entry Level 1

Exterior

Parking Features Assigned

Lot Features Rectangular Lot

Water Source Public

Total Parking 24

Lot Size Area 13094

Number of Buildings 2

Building Area Total 10524

Lot Size Acres 0.3006

Private Pool false

Lot Size Source Assessor

Number of Separate Water Meters 1

Number of Separate Gas Meters 17

Number of Separate Electric Meters 17

* Excluded Features

List By

Morgan Skenderian

Broker

dsr@morganskenderian.com

Affordability Calculator

$36,650

Per Month

Monthly Principal & Interest: $31,556
Monthly Property Taxes: $5,095
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Downey, CA

Average List Price ^$3,407,533

Percent of Sale Price 34%

About Downey, CA

112,576 Population

5% Since 2002

^$66,810 Median Income

35.34 Median Age

38% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4827338 Elementary School

4827337 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
3/26/2026	$5,125,000		Listed Price

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7306 Neo Street, Downey, CA, 90241 is a Multi-Family Home for sale at $5,125,000 with 10,524 sqft and a lot size of 0.3006. 7306 Neo Street is a studio with 1.0 baths and was built in 1957. The property's zip code is 90241 which is in Downey, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 3/28/2026. 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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7306 Neo Street

Multi-Family Home for sale in Downey, CA

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