The Deming Apartments

Positioned in the thriving city of Downey, this area presents an exceptional opportunity for multifamily/low-rise/garden investors. Boasting a strong sense of community and a diverse array of amenities, the location offers a desirable living experience for residents. Nearby points of interest include the historic Downey Theatre, renowned for its cultural performances, as well as the bustling Stonewood Center, providing abundant shopping and dining options. The area also features access to reputable schools, well-maintained parks, and convenient public transportation. With a strategic location and a wealth of local attractions, the property presents an attractive prospect for investors seeking to capitalize on the dynamic appeal of the Downey neighborhood.Morgan Skenderian is pleased to present The Deming Apartments, a rare opportunity to purchase a 20-unit apartment building with a prime unit mix of 70% 2-bedroom units for $225,000 per unit. The property sits on a residential street in the sought-after rental market of Downey. This is a true value-add opportunity for a new owner to improve property aesthetics and increase future income. The property offers a private courtyard, ample parking and on-site laundry facilities. Given the property’s ideal central location near Southland freeways (30 minutes or less median travel time to work) and the city of Downey’s sterling reputation with tenants, The Deming Apartments will benefit from rapidly rising rents as demand far outpaces supply resulting in historically-low vacancy rates.