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.
Property Details
Property Features
Property Information:
Year Built: 1941
Stories: 0
Living Area: 7,704 SqFt
Listing Office:
Office Name: Remax Commercial and Investment Realty
Office Phone: (213) 817-1000
Listing Agent: Nicholas Petrosian
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 8
Exterior Features
Parking Information:
Garage Space: 14 spaces
Parking: Door-Single, Garage
Lot Features
Lot Information:
Lot Size: 0.48 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Cooling: None
School Info
Assigned Schools Information:
Warren High School, Public District Grades 9-12
Griffiths Middle School, Public District Grades 6-8
Rio Hondo Elementary School, Public District Grades KG-5
Other
Directions Information:
Directions: North of Firestone Blvd and East of Paramount Blvd.
Price Information
Listing Price Info
Price Summary:
List Price: $3,200,000
Price Per SqFt: $415/SqFt
Tax Information:
Annual Amount: $9,215
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Downey, CA.
This property is $2.3M more than the Median Sold Price and $125/SqFt less than other homes in Downey, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24391225
Listing Office:
Office Name: Remax Commercial and Investment Realty
Office Phone: (213) 817-1000
Listing Agent: Nicholas Petrosian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 5/28/2024, 2:20:43 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$9,215
$604,171
2020
$8,978
$597,185
2019
$8,303
$585,477
2018
$8,130
$573,998
2017
$8,130
$562,744
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
6
/10
Rio Hondo Elementary School
7731 Muller St
Distance between this listing and this school0.64 miles
Public District Grades KG-5
Middle School
7
/10
Griffiths Middle School
9633 Tweedy Ln
Distance between this listing and this school1.13 miles
Public District Grades 6-8
High School
7
/10
Warren High School
8141 De Palma St
Distance between this listing and this school0.58 miles
Public District Grades 9-12
Assigned Schools
6
/10
Rio Hondo Elementary School
7731 Muller St
Distance between this listing and this school0.64 miles
Public District Grades KG-5
Nearby Schools
8
/10
Williams Elementary School
7530 Arnett St
Distance between this listing and this school0.81 miles
Public District Grades KG-3
7
/10
Alameda Elementary School
8613 Alameda St
Distance between this listing and this school1.21 miles
Public District Grades KG-3
Assigned Schools
7
/10
Griffiths Middle School
9633 Tweedy Ln
Distance between this listing and this school1.13 miles
Public District Grades 6-8
Nearby Schools
7
/10
West Middle School
11985 Old River School Rd
Distance between this listing and this school1.25 miles
Public District Grades 6-8
7
/10
Doty Middle School
10301 Woodruff Ave
Distance between this listing and this school1.26 miles
Public District Grades 6-8
Assigned Schools
7
/10
Warren High School
8141 De Palma St
Distance between this listing and this school0.58 miles
Public District Grades 9-12
Nearby Schools
8
/10
Downey High School
11040 Brookshire Ave
Distance between this listing and this school0.45 miles
Public District Grades 9-12
1
/10
Los Angeles County Special Education
9300 Imperial Hwy
Distance between this listing and this school1.88 miles
The neighbors living near this home have an average income of $59,826. The majority of Downey, CA residents have income between $35k-100k annually. Most families are single, no kids. Residents of this area typically have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 8116 3rd St
What is the listing price of this property?
The listing price of 8116 3rd St property is $3,200,000.
What type of property is this?
The property 8116 3rd St is a house located in Downey, California, 90241.
Is this property for sale now?
Active Listing: 8116 3rd St is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 8116 3rd St are: Rio Hondo Elementary School: GreatSchools Rating 6/10Griffiths Middle School: GreatSchools Rating 7/10Warren High School: GreatSchools Rating 7/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $9,215 (source: MLS/based on county public records data).
How many bedrooms and bathrooms does this property have?
The property at 8116 3rd St has 8 bedrooms and 14 bathrooms.
What is the square footage of this property?
The property 8116 3rd St is 7,704 SqFt (source: MLS/tax record).
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This home is located at 8116 3rd St in Downey, CA and zip code 90241 in the The Southeast neighborhood. This 7,704 square foot home, which was built in 1941, sits on a 0.48 acre lot. Features: 8 bedrooms, 14 bathrooms. It has been listed on Rocket Homes since May 13, 2024 and is currently priced at $3,200,000.
In April 2024 more than 14 listings in Downey, CA were sold above the asking price. During the same period more than 2 listings were sold at asking price, while more than 9 were sold below. The number of listings in Downey, CA decreased by 10.3% between March 2024 and April 2024. In April 2024 median list price was $823,333 and the average listing age was 16 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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