8531 Cole St, Downey, CA 90242
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8531 Cole St Downey, CA 90242

$975,900
  • 4 Beds
  • 3 Baths
  • 1,961 Sq.Ft.
Pending
$975,900 Get Pre-Qualified

Map preview of 8531 Cole St, Downey, CA 90242

Property Overview: 8531 Cole St Downey, CA has 4 bedrooms, 3 bathrooms, 1,961 living square feet and 9,321 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Rare Opportunity in Highly Desired Area of Downey! This duplex offers TWO standalone houses plus a bonus potential standalone studio-all nestled in the highly sought-after area of Downey. Immediate Occupancy: Ready to move in and make it your own! Whether you're eager to settle into your new home or start generating rental income right away, this property is available for immediate occupancy—no waiting required. Two Standalone Houses: The front house is currently configured as a 2 bed, 2 bath (with the option to convert back to a 3 bedroom prior to close), boasting approximately 1,333 square feet of living space. With amenities like an inside laundry area, new A/C unit, cozy fireplace, and covered patio, this will make for a great home or investment. The back house is a charming 1 bed, 1 bath retreat with approximately 606 square feet of living space. Featuring granite countertops, laminate flooring, another inviting fireplace, and inside laundry, it's perfect for tenants or extended family members seeking privacy and comfort. Spacious Lot: Situated on a large lot, this property offers ample space and endless possibilities. With a 2-car garage, covered patio, and expansive grass area, there's plenty of room for outdoor entertaining, gardening, or simply soaking up the California sunshine. Bonus Potential Studio: Need a space for your creative pursuits or possibly more rent? It’s a potential bonus standalone studio, offering approximately 200 square feet of versatile space you can potentially bring to life. Convenient Location: Close to shopping, freeway access, and all the amenities Downey has to offer, this property combines the tranquility of suburban living with the convenience of city life. Don't Miss Out! Seize this rare opportunity to own a piece of Downey's vibrant real estate market. Schedule your showing today and discover why this duplex is the perfect place to call home—or the smartest investment you'll make all year!

Listed by Andrew Willoughby | BRE #01258329 | Coldwell Banker Realty
Last checked: 2 minutes ago | Last updated: May 5th, 2024 | Source CRMLS | DOM: 7
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Home details

Lot Sq. Ft
9,321
HOA Dues
$0/mo
Year built
1956
Garage
2 Car
Property Type:
Duplex
Status
Pending
MLS#
PW24080985
City
Downey
County
Los Angeles
Time on Site
13 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 2
  • # of Leased Units: 0
  • # of Electric Meters: 2
  • # of Gas Meters: 2
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $57,600
  • Net Operating Income: $53,615
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $3,985
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Water/Sewer: $0

Open Houses for 8531 Cole St

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Property Details for 8531 Cole St

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Forced Air
Laundry Information
  • Has Laundry
  • Inside
Fireplace Information
  • Has Fireplace
  • Living Room
Room Information
  • Flooring: Carpet, Laminate
  • All Bedrooms Down, Kitchen, Laundry, Living Room, Main Floor Bedroom, Main Floor Primary Bedroom
Interior Features
  • Ceiling Fan(s), Granite Counters
  • Levels: One
Exterior Features
Exterior Information
  • Roof: Composition
  • Has Fence
  • Block
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 2
  • Has Parking
  • Parking Features: Driveway, Garage
Lot Information
  • Lot Features: Back Yard, Front Yard, Landscaped, Lawn, Lot 6500-9999, Level
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • No View
  • View: None
  • Common Walls: No Common Walls
  • Total # of Units: 2
  • Parcel Number: 6258010048
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Directions: from 105 fwy, North Lakewood, left Imperial, Right Brookshire, Right Cole
Neighborhood Information
  • Community Features: Curbs
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Sale History for 8531 Cole St

Last sold on November 14th, 2000
  • May, 2024

  • May 3, 2024

    Date

    Pending

    CRMLS: PW24080985

    $975,900

    Price

  • Apr 23, 2024

    Date

    Active

    CRMLS: PW24080985

    $975,900

    Price

  • November, 2000

  • Nov 14, 2000

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 8531 Cole St

Assessed Value (2020): $92,747
Year Land Value Improved Value Assessed Value
2020 $44,579 $48,168 $92,747

Home Value Compared to the Market

This property vs the competition

8531 Cole St is listed 11.02% higher than the median list price for the city of Downey which has a median list price of $879,000. The median price per/sqft for Downey is $541 and this home is listed at $497.65 per/sqft which puts the price per square foot 8.01% lower than the median price per square foot for the city of Downey.

About 8531 Cole St

Detailed summary of property

8531 Cole St is a duplex located in Downey, CA 90242 and is currently in escrow to be sold. This duplex offers 4 bedrooms, 3 bathrooms, roughly 1,961 living square feet, and sits on an approximately 9,321 square foot lot. 8531 Cole St was first listed on ArdentRealEstateGroup.com on April 24, 2024. The homeowner is currently asking $975,900. The median priced home in Downey is $879,000 with a median price per square foot of $541. Based on Ardent Real Estate Group's Downey Market Data, this home is listed 11.02% higher than the median priced home. Local competing homes currently for sale include 2310 E 117th St, 6236 Gretna Ave and 5406-5408 Via Corona St. While the average home in Downey, CA is selling in 48 days, 8531 Cole St has a days on market of 7 days. There are currently 87 homes for sale in the Downey real estate market and 74 of them are single family homes while 6 of them are condos and 7 are townhomes. For more information on this home for sale at 8531 Cole St Downey, CA 90242 contact Ardent Real Estate Group and we will put you in touch with one of our Downey agents.

Public Facts for 8531 Cole St

Public county record property details
Beds
5
Baths
3
Year built
1956
Sq. Ft.
1,961
Lot Size
9,318
Stories
--
Type
Duplex (2 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
10
APN
6258-010-048

The source for these homes facts are from public records.

90242 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$825,000
Median List Price/Sq.Ft.
$568
Median Sold Price
$830,000
Median Sold Price/Sq.Ft.
$501
Total Inventory
22
Median Sale to List Price %
98.82%
Avg Days on Market
21
Loan Type
Conventional (37.5%), FHA (37.5%), VA (0%), Cash (12.5%), Other (12.5%)

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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.