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8040 7Th St, Downey, CA 90241
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8040 7Th St Downey, CA 90241

$900,000 Sold Price as of 12/07/2020
  • 6 Beds
  • 3 Baths
  • 2,633 Sq.Ft.
Sold
$900,000 Sold Price as of 12/07/2020 Refinance Your Mortgage
Map preview of 8040 7Th St, Downey, CA 90241

Property Overview: 8040 7Th St Downey, CA has 6 bedrooms, 3 bathrooms, 2,633 living square feet and 5,230 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The subject property is a 3-unit apartment building located in of the most sought after areas along the 605 corridor, in North Downey. The current rents are well below the market average, providing the new owner an excellent opportunity to increase the cash flow substantially. The city of Downey has had a tremendous amount of new development in recent years, and is positioned to remain an extremely strong rental market for years to come.

Listed by Nicholas Petrosian | BRE #01462598 | Remax Commercial and Investment Realty
Last checked: 1 minute ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 22

Home details

Lot Sq. Ft
5,230
HOA Dues
$0/mo
Year built
1979
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
20623376
City
Downey
County
Los Angeles
Time on Site
1457 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $4,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $1,900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 17.1
  • Gross Scheduled Income: --
  • Net Operating Income: $34,458
  • Gross Operating Income: $52,380
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 8040 7Th St

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Detached Carport
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 3
  • Parcel Number: 6251035046
Location / Neighborhood
Location Information
  • Directions: Cross streets - Paramount Blvd and 7th Street
View more facts & features

Local Downey Agent

Sale History for 8040 7Th St

Last sold for $900,000 on December 7th, 2020

  • December, 2020

  • Dec 8, 2020

    Date

    Sold

    CRMLS: 20623376

    $900,000

    Price

  • Sep 29, 2020

    Date

    Pending

    CRMLS: 20623376

    $925,000

    Price

  • Sep 25, 2020

    Date

    Active

    CRMLS: 20623376

    $925,000

    Price

  • Sep 23, 2020

    Date

    Active Under Contract

    CRMLS: 20623376

    $925,000

    Price

  • Sep 11, 2020

    Date

    Hold

    CRMLS: 20623376

    $925,000

    Price

  • Aug 25, 2020

    Date

    Active

    CRMLS: 20623376

    $925,000

    Price

  • December, 2020

  • Dec 7, 2020

    Date

    Sold (Public Records)

    Public Records

    $900,000

    Price

  • May, 2002

  • May 16, 2002

    Date

    Sold (Public Records)

    Public Records

    $395,000

    Price

Show More

Tax History for 8040 7Th St

Assessed Value (2020): $520,046
Year Land Value Improved Value Assessed Value
2020 $135,073 $384,973 $520,046

Home Value Compared to the Market

This property vs the competition

8040 7Th St sold on December 7, 2020 for 3.35% 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 $351.31 per/sqft which puts the price per square foot 39.64% lower than the current median sale per square foot for the city of Downey.

About 8040 7Th St

Detailed summary of property

8040 7Th St is a multi family that recently sold in Downey, CA 90241. This multi family property offered 6 bedrooms, 3 bathrooms, roughly 2,633 living square feet, and sits on an approximately 5,230 square foot lot. 8040 7Th St was first listed on ArdentRealEstateGroup.com on September 23, 2020. The homeowner sold the property for $900,000. 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 3.35% higher than the current median priced home. Local homes that are currently for sale include 1428 E 59th St, 1725 E 55th St and 4524 Hammel St. While the average home in Downey, CA is selling in 56 days, 8040 7Th St has a days on market of 22 days. There are currently 98 homes for sale in the Downey real estate market and 83 of them are single family homes while 12 of them are condos and 3 are townhomes. For more information on this home for sale at 8040 7Th St Downey, CA 90241 contact Ardent Real Estate Group and we will put you in touch with one of our Downey agents.

Public Facts for 8040 7Th St

Public county record property details
Beds
6
Baths
5
Year built
1979
Sq. Ft.
2,633
Lot Size
5,229
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
6
APN
6251-035-046

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
$909,900
Median List Price/Sq.Ft.
$558
Median Sold Price
$987,000
Median Sold Price/Sq.Ft.
$536
Total Inventory
43
Median Sale to List Price %
100.82%
Avg Days on Market
42
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.

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