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Key Details
Sold Price $2,800,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,704 sqft
Price per Sqft $363
MLS Listing ID 24391225
Sold Date 07/30/24
Bedrooms 8
HOA Y/N No
Year Built 1941
Lot Size 0.482 Acres
Property Description
Presenting an outstanding investment opportunity in the Downtown area of the city of Downey, exclusively offered by RE/MAX Commercial & Investment Realty. This impressive property comprises 14 single-story units set on a spacious 20,996 square foot lot. There is a total of 14 detached single car garages and the property is separately metered for gas and electric. Boasting an impressive Walk Score of 89, the property offers unparalleled access mere footsteps away to shopping, trendy dining, and entertainment options, enhancing its appeal and marketability. Additionally, with approximately 40% upside potential in the current rents, this investment epitomizes prime real estate in a thriving rental market, promising long-term growth and stability. All offers must include a current proof of funds.
Location
State CA
County Los Angeles
Area D2 - Northwest Downey, N Of Firestone, W Of Downey
Zoning DOC3*
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Garage Door-Single, Garage
Garage Spaces 14.0
Garage Description 14.0
Parking Type Door-Single, Garage
Total Parking Spaces 14
Building
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 6254003025
Special Listing Condition Standard
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Bought with Nicholas Petrosian • Remax Commercial and Investment Realty
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