Seller's Agent in 2018
Kevin King
Marcus & Millichap
(562) 257-1245
39 Total Sales
7441 Firestone Place Downey, CA 90241
13
Beds
8
Baths
9,078
Sq Ft
0.38
Acres
About This Home
As of November 2018For the first time ever, we are pleased to present 7441 Firestone Place, a ten unit multi-family community located in the prime rental market of Downey, CA.
Located on a quiet, tree-lined street and built in 1972 by the families of the current owners, the two story property consists of approximately 9,078 square feet on a 16,571 square foot lot. The building consists of 1 non-conforming studio unit, 8 two bedroom / one and one quarter bathroom units, and 1 three bedroom / one and three quarter bathroom owners unit. The units all open up to lush courtyard, surrounded by many fruit trees and various shrubs, and all but one of the units feature balconies or patios. Each unit has a spacious, open floor plan, and many of them have ceiling fans and newer mirrored closet doors. In addition, five of the units have been upgraded with copper plumbing, and the building also features an income producing laundry room and plenty of parking, as each unit except the studio has a carport and an open parking space. There is also a two car garage that is currently being used by the owner for storage and a working sauna on the premises, which is also being used by the current owner for storage.
This is an absolutely incredible opportunity to acquire a true value-add, pride of ownership multi-family asset in one of the best areas in the city, and would make a fantastic addition to any investor’s portfolio.
Last Agent to Sell the Property
Marcus & Millichap License #01158184 Listed on: 09/11/2018
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1972
Lot Details
- 0.38 Acre Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Parking
- 2 Car Garage
- 9 Carport Spaces
Home Design
- Property Attached
Interior Spaces
- 9,078 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 13 Bedrooms
- 8 Bathrooms
Utilities
- Septic Type Unknown
Listing and Financial Details
- Tax Lot 3
- Tax Tract Number 550800
- Assessor Parcel Number 6249025006
Community Details
Building Details
- 10 Separate Electric Meters
- 10 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,710
- Fuel Expense $2,710
- Insurance Expense $2,831
- Maintenance Expense $7,018
- Other Expense $2,030
- Professional Management Expense $10,200
- Trash Expense $2,710
- Water Sewer Expense $2,710
- New Taxes Expense $33,527
- Operating Expense $66,444
- Gross Income $169,896
- Net Operating Income $103,452
Additional Features
- 10 Units
- Laundry Facilities
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/08/2018 11/08/18 | Sold | $2,635,000 | -3.3% | $290 / Sq Ft |
| 10/03/2018 10/03/18 | For Sale | $2,725,000 | 0.0% | $300 / Sq Ft |
| 10/01/2018 10/01/18 | Pending | -- | -- | -- |
| 09/11/2018 09/11/18 | For Sale | $2,725,000 | -- | $300 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $37,407 | $2,939,387 | $875,680 | $2,063,707 |
| 2024 | $37,407 | $2,881,753 | $858,510 | $2,023,243 |
| 2023 | $36,147 | $2,825,249 | $841,677 | $1,983,572 |
| 2022 | $34,366 | $2,769,853 | $825,174 | $1,944,679 |
| 2021 | $33,543 | $2,715,544 | $808,995 | $1,906,549 |
| 2019 | $32,720 | $2,635,000 | $785,000 | $1,850,000 |
| 2018 | $6,498 | $374,882 | $99,093 | $275,789 |
| 2016 | $6,160 | $360,327 | $95,246 | $265,081 |
| 2015 | $6,074 | $354,916 | $93,816 | $261,100 |
| 2014 | $5,865 | $347,965 | $91,979 | $255,986 |
Source: Public Records
Agents Affiliated with this Home
-
Kevin King
-
Ryan Gonzalez
R
Seller Co-Listing Agent in 2018
Ryan Gonzalez
Lyon Stahl Investment Real Est
(562) 879-3206
18 Total Sales
-
NoEmail NoEmail
N
Buyer's Agent in 2018
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
6,284 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW18222024
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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