8219 5Th St, Downey, CA 90241
4 Unit Apartment Building | $1,280,000 ($320,000/Unit) | 2.36% Cap Rate | Downey, CA 90241
For Sale
Active
Asking Price $1,280,000
- Property Type
-
Multifamily
- Square Feet
- 2,596 SF
Listing Contacts
Nicholas Petrosian
Property Overview
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 11,171 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 a pre-approval letter.
Property Details
- Year Built
- 1924
- Stories
- 1
- Lot Size (sq. ft)
- 11,326 SF
- Units
- 4
Highlights
- Phenomenal North Downey Location
- Walking Distance to all Amenities
- (4) Detached Single Family Homes
- Significant Amount of Upside in the Rental Income
- Laundry Hookups in Each Unit
- Potential to Add an ADU(s) - Buyer to Verify with City
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