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8219 5Th St, Downey, CA 90241
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8219 5Th St Downey, CA 90241

$1,240,000 Sold Price as of 07/12/2024
  • 6 Beds
  • 4 Baths
  • 2,596 Sq.Ft.
Sold
$1,240,000 Sold Price as of 07/12/2024 Refinance Your Mortgage
Map preview of 8219 5Th St, Downey, CA 90241

Property Overview: 8219 5Th St Downey, CA has 6 bedrooms, 4 bathrooms, 2,596 living square feet and 11,173 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Nicholas Petrosian | BRE #01462598 | Remax Commercial and Investment Realty
Last checked: 9 minutes ago | Last updated: July 12th, 2024 | Source CRMLS | DOM: 12

Home details

Lot Sq. Ft
11,173
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
24396225
City
Downey
County
Los Angeles
Time on Site
117 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 4
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,325
  • Total Rent: $1,325
  • Pro Forma/Market Rent: $1,975
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,340
  • Total Rent: $1,340
  • Pro Forma/Market Rent: $1,975
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,425
  • Total Rent: $1,425
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,275
  • Total Rent: $1,275
  • Pro Forma/Market Rent: $2,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 19.88
  • Gross Scheduled Income: --
  • Net Operating Income: $30,226
  • Gross Operating Income: $62,449
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 8219 5Th St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: One
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Garage - Single Door, Driveway
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 4
  • Parcel Number: 6253004020
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: North of Firestone Blvd and East of Paramount Blvd
View more facts & features

Local Downey Agent

Sale History for 8219 5Th St

Last sold for $1,240,000 on July 12th, 2024

  • July, 2024

  • Jul 12, 2024

    Date

    Sold

    CRMLS: 24396225

    $1,240,000

    Price

  • May 24, 2024

    Date

    Active

    CRMLS: 24396225

    $1,280,000

    Price

Tax History for 8219 5Th St

Assessed Value (2020): $182,209
Year Land Value Improved Value Assessed Value
2020 $151,172 $31,037 $182,209

Home Value Compared to the Market

This property vs the competition

8219 5Th St sold on July 12, 2024 for 43.02% 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 $493.07 per/sqft which puts the price per square foot 15.28% lower than the current median sale per square foot for the city of Downey.

About 8219 5Th St

Detailed summary of property

8219 5Th St is a multi family that recently sold in Downey, CA 90241. This multi family property offered 6 bedrooms, 4 bathrooms, roughly 2,596 living square feet, and sits on an approximately 11,173 square foot lot. 8219 5Th St was first listed on ArdentRealEstateGroup.com on May 25, 2024. The homeowner sold the property for $1,240,000. 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 43.02% higher than the current median priced home. Local homes that are currently for sale include 6140 Orange Ave, 945 record Ave and 1921 E Washington St. While the average home in Downey, CA is selling in 56 days, 8219 5Th St has a days on market of 12 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 8219 5Th 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 8219 5Th St

Public county record property details
Beds
4
Baths
4
Year built
1924
Sq. Ft.
2,596
Lot Size
11,170
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
1,2
APN
6253-004-020

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%)

Thinking of Selling?

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(714) 706-1823

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Recently Sold Homes Near 8219 5Th St

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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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