8219 5th Street, Downey, CA 90241
- $1,240,000
- 4
- BD
- 4
- BA
- 2,596
- SqFt
- Sold Price
- $1,240,000
- List Price
- $1,280,000
- Closing Date
- Jul 12, 2024
- Status
- CLOSED
- MLS#
- 24396225
- Year Built
- 1924
- Bedrooms
- 4
- Bathrooms
- 4
- Living Sq. Ft
- 2,596
- Lot Size
- 11,173
- Acres
- 0.26
- Days on Market
- 12
- Property Type
- Multifamily
- Stories
- One Level
Property Description
We are pleased to present 8219 5th Street, a 4-unit multifamily investment asset located in one of the most highly sought-after locations in the city of Downey. The subject property consists of four detached single-family homes on a spacious 11,173 square foot lot. Two of the houses are 2-bed/1-bath, and the other two are 1-bed/1-bath. The current rents are substantially below market, leaving a significant amount of upside for a new owner. Further growth opportunity lies in the potential to convert the detached 2-car garage into an ADU. The subject property has been in the same family for over 30 years and represents an excellent investment opportunity due to its phenomenal location and substantial potential for growth. LA County Tax Assessor is showing that the unit mix is all 1-bed / 1-bath. BUYER TO VERIFY ANY ADU POTENTIAL, INCLUDING THE EXISTING NUMBER OF UNITS, UNIT MIX, SQUARE FOOTAGE, AND YEAR BUILT WITH THE CITY OF DOWNEY. All Offers must include a current proof of funds and pre-approval letter.
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Additional Information
- Heat
- None
- Cooling Description
- None
- Attached Structure
- Detached
- Number Of Units Total
- 4
Listing courtesy of Listing Agent: Nicholas Petrosian (npetrosian@remaxcir.com) from Listing Office: Remax Commercial and Investment Realty.
Listing sold by Armando Martinez from 24 Hour Real Estate
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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.