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Key Details
Sold Price $1,240,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,596 sqft
Price per Sqft $477
MLS Listing ID 24396225
Bedrooms 4
Year Built 1924
Lot Size 0.256 Acres
Property Description
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.
Location
State CA
County Los Angeles
Area D2 - Northwest Downey, N Of Firestone, W Of Downey
Zoning DOR3*
Interior
Heating None
Cooling None
Exterior
Parking Features Door-Single, Driveway, Garage
Building
Story 1
New Construction No
Others
Special Listing Condition Standard
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Bought with Armando Martinez • 24 Hour Real Estate
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Paul Ward
Broker Associate | License ID: 01354001
Broker Associate License ID: 01354001
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