8116 3rd Street

Downey, CA 90241

$3,200,000
Price
8
Beds
14
Baths
7,704 Sq. Ft.
$415 / Sq. Ft.
7,704
Sq. Ft.
$415
per Sq. Ft.

Description

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...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.
  1. Listed by Nicholas Petrosian • DRE #01462598 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 8116 3rd Street

Zoning
DOC3*
Parcel Number
6254003025
Total Units
14.0
Living Area
7704
Source Living Area
Assessor
Area
Northwest Downey, N of Firestone, W of Downey (D2)
Vacancy Rate
3%
Lot Size Area
20996

Location

Listing Courtesy of Remax Commercial and Investment Realty, Nicholas Petrosian, DRE #01462598
Add your commute
LISTING UPDATED: 05/31/2024 11:27 AM

Property Details for 8116 3rd Street

StatusActive
MLS #24-391225
Days on Market20
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1941
Lot Size0.48 AC / 20,996 SF
CountyLos Angeles County

Location

Listing Courtesy of Remax Commercial and Investment Realty, Nicholas Petrosian, DRE #01462598
Add your commute

Building Information for 8116 3rd Street

Stories-Residences-Year Built1941Building Size-Lot Size0.48 AC / 20,996 SF

Payment Calculator

$18,308 per month

30 year fixed, 7.25% Interest

Principal and Interest

$17,464

Property Taxes

$844

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8116 3rd Street

Community / Development
Community / Development
  • Number Of Units: 14
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 3
  • Type Of Units: Multi-family
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $176,288
  • Net Operating Income: $90,837.00
  • Gross Income: $181,740
  • Gross Rent Multiplier: $17.61
  • Total Annual Expense: 85451
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.482
  • Lot Size Square Feet: 20996
Parking Details
Parking Details
  • Parking Garage: Garage - 1 Car
  • Total Parking: 14
  • Garage Spaces Total: 14
  • Parking Features: Garage - Single Door
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-13-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,175.00
  • Unit Actual Rent: $9,400.00
  • Unit Projected Rent: $16,400.00
  • Like Units: 8
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $957.00
  • Unit Actual Rent: $5,745.00
  • Unit Projected Rent: $10,500.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $194,586.00
  • Assessed Improvement Percent: 31.0
  • Assessed Land Value: $433,159.00
  • Assessed Land Percent: 69
  • Assessed Total Value: $627,745.00

Property History for 8116 3rd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 8116 3rd Street

Taxable ValueLand$433,159Additions$195,386Total$628,545
Tax Record2023$10,123 ($844 / month)
Home Facts
Total Finished SqFt7,704 SqFtAbove Grade Finished SqFt7,704 SqFtLot Size21,018 SqFtStyleMulti-Family Res (5+ Units)Year Built1941ZoningDOC3*CountyLOS ANGELESAPN6254-003-025

Schools near 8116 3rd Street

This home is within Downey Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Rio Hondo Elementary School
PublicK to 5

Griffiths Middle School
Public6 to 8

Warren High School
Public9 to 12

Woodruff Academy
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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8116 3rd Street is a multi-family home for sale in Downey, CA 90241. This property was listed for sale on May 13, 2024 by Remax Commercial and Investment Realty, it's currently listed at $3,200,000. This listing's school district is Downey Unified School District. Nearby schools include Rio Hondo Elementary School, Griffiths Middle School and Warren High School. 8116 3rd Street is a 8-bed, 14-bath, 7,704 sqft multi-family home built in 1941.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Remax Commercial and Investment Realty, Nicholas Petrosian, DRE #01462598

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.