Seller's Agent in 2021
Doug Rodermund
Morgan Skenderian
(949) 295-8560
34 Total Sales
7745 Florence Ave Downey, CA 90240
3
Beds
2
Baths
16,185
Sq Ft
0.46
Acres
About This Home
As of September 2021We are pleased to present 7745 Florence Avenue, an 18-unit investment property located in the highly desirable rental market of Downey. Comprised of majority 2-bedroom units, this North Downey investment opportunity offers a phenomenal rental location on Florence Avenue offering excellent street visibility and allows tenants to travel through the Greater Los Angeles area with ease. The property has been well-maintained and offers ample tuck-under parking, on-site laundry and a walk score of 78 allowing most daily errands to be accomplished by foot. Attractively priced with a low cost per square foot, 7745 Florence Avenue is a rarely available North Downey investment opportunity that features a large amount of rental upside making this an excellent investment opportunity to achieve long-term growth. *Rare North Downey Opportunity, *Phenomenal Rental Location on Florence Avenue, *Majority 2-Bedroom Units, *Low Cost Per Square Foot, *Large Amount of Rental Upside
Last Agent to Sell the Property
Morgan Skenderian License #01314304 Listed on: 05/26/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1959
Lot Details
- 0.46 Acre Lot
- No Common Walls
- Density is 16-20 Units/Acre
Home Design
- 16,185 Sq Ft Home
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Parking
- 18 Parking Spaces
- 18 Carport Spaces
Additional Features
- Laundry Room
- Exterior Lighting
Listing and Financial Details
- Tax Lot 2
- Tax Tract Number 10672
- Assessor Parcel Number 6360019009
Community Details
Building Details
- Rent Control
- 19 Separate Electric Meters
- 19 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $2,400
- Insurance Expense $5,264
- Maintenance Expense $17,035
- Other Expense $24,960
- New Taxes Expense $59,004
- Operating Expense $118,062
- Gross Income $2,400
- Net Operating Income $212,409
Additional Features
- 18 Units
- Laundry Facilities
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/14/2021 09/14/21 | Sold | $5,175,000 | -0.5% | $320 / Sq Ft | |
| 06/16/2021 06/16/21 | Pending | -- | -- | -- | |
| 05/26/2021 05/26/21 | For Sale | $5,200,000 | +26.1% | $321 / Sq Ft | |
| 12/05/2017 12/05/17 | Sold | $4,125,000 | -1.8% | $255 / Sq Ft | View Prior Sale |
| 10/05/2017 10/05/17 | Pending | -- | -- | -- | |
| 08/01/2017 08/01/17 | For Sale | $4,200,000 | -- | $259 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $69,366 | $5,491,751 | $2,653,020 | $2,838,731 |
| 2024 | $69,366 | $5,384,070 | $2,601,000 | $2,783,070 |
| 2023 | $67,010 | $5,278,500 | $2,550,000 | $2,728,500 |
| 2022 | $63,682 | $5,175,000 | $2,500,000 | $2,675,000 |
| 2021 | $53,708 | $4,336,111 | $2,233,754 | $2,102,357 |
| 2019 | $52,360 | $4,209,580 | $2,167,500 | $2,042,080 |
| 2018 | $55,280 | $4,127,080 | $2,125,000 | $2,002,080 |
| 2017 | $9,605 | $515,658 | $135,813 | $379,845 |
| 2016 | $9,267 | $505,548 | $133,150 | $372,398 |
| 2015 | $9,130 | $497,955 | $131,150 | $366,805 |
| 2014 | $8,856 | $488,201 | $128,581 | $359,620 |
Source: Public Records
Agents Affiliated with this Home
-
Doug Rodermund
-
Jack Mangin
Buyer's Agent in 2021
Jack Mangin
ENRG Realty Inc
(310) 866-8871
114 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW21113537
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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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