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Sold on 06/12/2024
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8116 3rd St, Downey, CA 90241

  • $3,200,000

    Last sold 06/12/2024 for $3.2M

  • 8

    bed

  • 14

    bath

  • 7,704

    Sqft ($415/Sqft)

Multi-family not for sale
Movoto is helping 42 homebuyers near you

About 8116 3rd St

Property type Multi-family
Neighborhood
Year built 1941
HOA fee $0/month
Lot size 0.48 Acre
Movoto estimate
Parking 14 garage spaces
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.
Listed by
Listing Agent - Nicholas Petrosian
Listing Office - Remax Commercial and Investment Realty
Source: The MLS mls logo
MLS#24-391225 • last updated 1 year ago
Movoto checked The MLS for data 12 minutes ago
Overview
Levels/Style One
MLS # 24-391225
Type Residential Income
Status Sold
SqFt 7704
Lot Size (SqFt) 20996
Lot Size (Acres) 0.482
Year Built 1941
Interior
Total # of Baths 14
Total # of Bedrooms 8
Exterior
# Garage Spaces 14
# Parking Spaces 14
Parking Desc Garage - 1 Car
Add'l Structures None
Amenities / Utilities
Equipment None
Location
County Los Angeles
Zoning DOC3*
APN 6254-003-025
Multifamily Details
Unit 1: Furnished No
Unit 1: Projected Rent 16400
Unit 1: # Beds 1
Unit 1: Rent 1175
Unit 2: Rent 957
Unit 2: Furnished No
Unit 2: Projected Rent 10500
Unit 2: # Baths 1
Unit 1: # Baths 1
Unit 2: Actual Rent 5745
Unit Type 2106, 2107
Unit 1: Actual Rent 9400
Total # Of Buildings 3
Net Operating Income 95897
Cap Rate 3.42
Vacancy Rate 3%
Gross Income 181740
Gross Operating Income 176288
Gross Rent Multiplier 15.41
Total Annual Expenses 80391
$3.2M
Range: $2.88M-$3.52M
Last 30 days 
  • Jun 2024
    mls logo MLS # 24-391225
  • Jun 12, 2024 Pending
    —
  • May 21, 2024 Active
    —
  • May 13, 2024 Listed
    $3,200,000
  • 8116 3rd St
    $3.2M
  • Northwest Downey, N Of Firestone, W Of Downey
    —
  • 90241
    $850K +4% y/y
  • Downey
    $844K +3% y/y
No chart available
Statistics calculated by Movoto

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7/10
Rio Hondo Elementary School
public Grades K-5
Downey Unified School District
7/10
Griffiths Middle School
public Grades 6-8
Downey Unified School District
8/10
Warren High School
public Grades 9-12
Downey Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

Around Northwest Downey, N Of Firestone, W Of Downey

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