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.
Sold for $2,800,000
Tax assessed value
$2,800,000
8116 3rd St, Downey, CA 90241
8beds
14baths
7,704sqft
Multi Family
Built in 1941
-- sqft lot
$-- Zestimate®
$363/sqft
$2,609 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,609/mo
Zestimate® history
Owner options
List your home for rent
$2,609/mo
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$2,609/mo
Rent Zestimate®
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$18,150/mo
Est. payment
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$18,150/mo
Est. payment
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List your homeWhat's special
Zillow last checked:
Listing updated:
Listed by:
Nicholas Petrosian DRE # 01462598 949-607-7096,
Remax Commercial and Investment Realty 213-817-1000
Bought with:
Nicholas Petrosian, DRE # 01462598
Remax Commercial and Investment Realty
Source: CLAW,MLS#: 24-391225
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 14
Heating
- Wall
Cooling
- None
Interior area
- Total structure area: 7,704
- Total interior livable area: 7,704 sqft
Property
Parking
- Total spaces: 14
- Parking features: Garage - 1 Car
- Garage spaces: 14
Features
- Levels: One
Lot
- Size: 0.48 Acres
Details
- Additional structures: None
- Parcel number: 6254003025
- Zoning: DOC3*
- Special conditions: Standard
- Other equipment: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- Year built: 1941
Community & neighborhood
Location
- Region: Downey
Price history
| Date | Event | Price |
|---|---|---|
| 7/30/2024 | Sold | $2,800,000-12.5%$363/sqft |
Source:  CLAW #24-391225 Report a problem | ||
| 6/13/2024 | Pending sale | $3,200,000$415/sqft |
Source: CLAW #24-391225 Report a problem | ||
| 5/27/2024 | Listed for sale | $3,200,000$415/sqft |
Source: CLAW #24-391225 Report a problem | ||
| 5/21/2024 | Contingent | $3,200,000$415/sqft |
Source: CLAW #24-391225 Report a problem | ||
| 5/13/2024 | Listed for sale | $3,200,000$415/sqft |
Source: CLAW #24-391225 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $37,596 +261.1% | $2,800,000 +336.8% |
| 2024 | $10,412 +2.9% | $641,099 +2% |
| 2023 | $10,123 +4.3% | $628,545 +2% |
| 2022 | $9,707 +5.3% | $616,237 +2% |
| 2021 | $9,215 +1.3% | $604,171 +1% |
| 2020 | $9,097 | $597,985 +2% |
| 2019 | $9,097 +9.5% | $586,277 +2% |
| 2018 | $8,304 | $574,798 +2.1% |
| 2017 | $8,304 +2.1% | $562,744 +2% |
| 2016 | $8,130 +2.4% | $551,711 +1.5% |
| 2015 | $7,943 +5.4% | $543,425 +2% |
| 2014 | $7,537 | $532,781 +4.5% |
| 2011 | -- | $509,781 +0.5% |
| 2009 | -- | $507,175 +2% |
| 2008 | -- | $497,232 +4% |
| 2006 | -- | $477,926 |
| 2005 | -- | $477,926 +4% |
| 2004 | -- | $459,370 +3.9% |
| 2002 | -- | $442,111 |
Find assessor info on the county website
Neighborhood: 90241
Nearby schools
GreatSchools rating
- 8/10Rio Hondo Elementary SchoolGrades: K-5Distance: 0.6 mi
- 8/10Griffiths Middle SchoolGrades: 6-8Distance: 1.1 mi
- 7/10Warren High SchoolGrades: 9-12Distance: 0.5 mi
- California
- Los Angeles County
- Downey
- 90241
- 8116 3rd St
Nearby cities
Nearby zip codes
Other Downey Topics
