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10331 Downey Ave Downey, CA 90241

$2,515,000 Sold Price as of 12/17/2020

16 Beds
16 Baths
10,128 Sq.Ft.

Sold

$2,515,000 Sold Price as of 12/17/2020 Refinance Your Mortgage

Map preview of 10331 Downey Ave, Downey, CA 90241

Property Overview: 10331 Downey Ave Downey, CA has 16 bedrooms, 16 bathrooms, 10,128 living square feet and 16,552 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present the opportunity to acquire 10331 Downey Avenue, a 8-unit multifamily investment property located in Downey, California. 10331 Downey Avenue was constructed in 1989 and is situated on a 0.38 acre lot. The property consists of eight two-bedroom two-bathroom units which are each approx 1,266 sqft and offer amenities including attached 2-car garages with direct access to the unit, in unit washer and dryer hook ups and private patios in the front. The property has been proudly maintained for over 25 years with promptly repairs when needed. 10331 Downey Avenue is separately metered for gas, electricity and water. 10331 Downey Avenue is conveniently located near the 710, 605 and 5 freeways and is in very close proximity to multiple retail centers, restaurants, golf courses, entertainment and schools. Given the fantastic Downey location and the quality of the asset, this property is well suited to provide investors with strong returns and value appreciation over the long term investment horizon. 100% 2 Bed 2 Bath Units ----- Large 1,266 sqft Units ---- Desirable Rental Location ---- 1989 Construction ---- Separately Metered for Water, Electricity and Gas ---- Quick Access to 5/605/710 Freeways ---- Attached 2-Car Garages w/ in unit Laundry.

Listed by Shane Young | BRE #01963090 | Marcus & Millichap

Last checked: 27 seconds ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 0

Home details

Lot Sq. Ft: 16,552
HOA Dues: $0/mo
Year built: 1989
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: PW20138007
City: Downey
County: Los Angeles
Time on Site: 1538 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 8
Total # of Buildings: 1
# of Electric Meters: 8
# of Gas Meters: 8
# of Water Meters: 8

Unit Breakdown 1

# of Units: 8
# of Beds: 2
# of Baths: 2
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $15,161
Total Rent: $15,161
Pro Forma/Market Rent: $19,600

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 4.66%
Gross Rent Multiplier: 13.82
Gross Scheduled Income: $181,932
Net Operating Income: $117,270
Gross Operating Income: --
Vacancy Allowance: $5,458

Annual Expense Breakdown

Total Operating Expense: $27,932
Electric: $595
Gas/Fuel: $595
New Taxes: $31,272
Trash: $595
Gardener: $1,200
Insurance: $4,558
Maintenance: $9,097
Professional Management: $9,097
Water/Sewer: $595

Property Details for 10331 Downey Ave

Interior Features

Laundry Information

Has Laundry
Inside

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Lot Information

Lot Features: Level with Street
Lot Size Source: Assessor
Common Interest: Community Apartment

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 8
Parcel Number: 6252022013
Year Built Source: Assessor
Property is Attached
Has Land Lead

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Directions: Downey Avenue & E. Florence Avenue

Neighborhood Information

Community Features: Curbs

View more facts & features

Local Downey Agent

Sale History for 10331 Downey Ave

Last sold for $2,515,000 on December 18th, 2020

December, 2020
Dec 18, 2020

Date

Sold

CRMLS: PW20138007

$2,515,000

Price
Oct 10, 2020

Date

Pending

CRMLS: PW20138007

$2,515,000

Price
Jul 14, 2020

Date

Active Under Contract

CRMLS: PW20138007

$2,515,000

Price
Jul 14, 2020

Date

Active

CRMLS: PW20138007

$2,515,000

Price
December, 2020
Dec 18, 2020

Date

Sold (Public Records)

Public Records

$2,515,000

Price
March, 1994
Mar 10, 1994

Date

Sold (Public Records)

Public Records

$925,000

Price

Tax History for 10331 Downey Ave

Assessed Value (2020): $1,250,949

Year	Land Value	Improved Value	Assessed Value
2020	$416,978	$833,971	$1,250,949

Home Value Compared to the Market

This property vs the competition

10331 Downey Ave sold on December 17, 2020 for 181.01% higher than the current median sold price for the city of Downey which is $895,000. The median sold price per/sqft for Downey is $582 and this home is sold at $248.32 per/sqft which puts the price per square foot 57.33% lower than the current median sale per square foot for the city of Downey.

About 10331 Downey Ave

Detailed summary of property

10331 Downey Ave is a multi family that recently sold in Downey, CA 90241. This multi family property offered 16 bedrooms, 16 bathrooms, roughly 10,128 living square feet, and sits on an approximately 16,552 square foot lot. 10331 Downey Ave was first listed on ArdentRealEstateGroup.com on July 14, 2020. The homeowner sold the property for $2,515,000. Home in Downey are selling for a median price of $895,000 and a median price per square foot of $582. Based on Ardent Real Estate Group's Downey Market Data, this home is sold 181.01% higher than the current median priced home. Local homes that are currently for sale include 7361 Artesia Blvd, 1128 E 28th St and 5243 Huntington Dr. There are currently 98 homes for sale in the Downey real estate market and 85 of them are single family homes while 11 of them are condos and 2 are townhomes. For more information on this home for sale at 10331 Downey Ave Downey, CA 90241 contact Ardent Real Estate Group and we will put you in touch with one of our Downey agents.

Public Facts for 10331 Downey Ave

Public county record property details

Beds: 16
Baths: 16
Year built: 1989
Sq. Ft.: 10,128
Lot Size: 16,610
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 4
APN: 6252-022-013

The source for these homes facts are from public records.

90241 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$949,000

Median List Price/Sq.Ft.

$563

Median Sold Price

$987,000

Median Sold Price/Sq.Ft.

$536

Total Inventory

Median Sale to List Price %

100.82%

Avg Days on Market

Loan Type

Conventional (41.67%), FHA (16.67%), VA (0%), Cash (33.33%), Other (8.33%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.