NOT LISTED FOR SALE

8116 3rd St Downey, CA 90241

8 Beds
14 Baths
7,704 Sq Ft
0.48 Acres

Last Sold July 30, 2024

Last sale price $2,800,000 $363 Per Sq Ft

30 Days on Market

About This Home

As of July 2024

Presenting an outstanding investment opportunity in the Downtown area of the city of Downey, exclusively offered by RE/MAX Commercial & Investment Realty. This impressive property comprises 14 single-story units set on a spacious 20,996 square foot lot. There is a total of 14 detached single car garages and the property is separately metered for gas and electric. Boasting an impressive Walk Score of 89, the property offers unparalleled access mere footsteps away to shopping, trendy dining, and entertainment options, enhancing its appeal and marketability. Additionally, with approximately 40% upside potential in the current rents, this investment epitomizes prime real estate in a thriving rental market, promising long-term growth and stability. All offers must include a current proof of funds.

Last Agent to Sell the Property

Nicholas Petrosian

Remax Commercial and Investment Realty License #01462598 Listed on: 05/13/2024

Remax Commercial and Investment Realty

Last Buyer's Agent

Nicholas Petrosian

Remax Commercial and Investment Realty License #01462598 Listed on: 05/13/2024

Remax Commercial and Investment Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1941

Lot Details

  • 0.48

Parking

  • 14 Car Garage

Interior Spaces

  • 7,704 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 14 Bathrooms

Additional Features

  • 0.48 Acre Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 3 Buildings
  • 14 Units

Listing and Financial Details

  • Assessor Parcel Number 6254-003-025

Property Details

Home Type

Multi-Family

Year Built

Built in 1941

Lot Details

0

Parking

14

Listing Details

  • Property Type: Residential Income
  • Levels: One
  • Street Number Display: Yes
  • Living Area: 7704
  • Lot Acreage: 0.4820
  • Year Built: 1941
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 8
  • Total Bathrooms: 14.00
  • Price Per S Q F T: 415.37

Exterior Features

  • Other Structures: None

Garage/Parking

  • Garage Spaces: 14
  • Parking Garage: Garage - 1 Car
  • Total Parking: 14

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 31.00
  • Assessed Improvement Value: 194586
  • Assessed Land Percent: 69
  • Assessed Land Value: 433159
  • Total Assessed Value: 627745
  • Assessor Parcel Number: 6254-003-025
  • Lot Size Area: 20996

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 15.41
  • Number Of Units: 14
  • Type Of Units: Multi-family

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/30/2024 07/30/24 Sold $2,800,000 -12.5% $363 / Sq Ft
06/12/2024 06/12/24 Pending -- -- --
05/27/2024 05/27/24 For Sale $3,200,000 0.0% $415 / Sq Ft
05/21/2024 05/21/24 Pending -- -- --
05/13/2024 05/13/24 For Sale $3,200,000 -- $415 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 24-391225

The MLS
California Los Angeles County Downey 90241

8116 3rd St, Downey, CA

Not Listed for Sale

MultiFamily

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