8219 5th Street, Downey, CA 90241
Property
Sold July 2024
Listing Agent: Nicholas Petrosian (DRE #01462598) · Listing Office: Remax Commercial and Investment Realty · Contact: 213-817-1000 · Bought with: Armando Martinez · 24 Hour Real Estate · MLS #24396225 · Source: CRMLS
About this property
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.
Listing description from the July 2024 sale, as reported to CRMLS.
Sale history