8118 Alameda Street, Downey, California 90242, Downey, 90242 - bed, bath
ACTIVE$1,629,900
8118 Alameda Street, Downey, California 90242
0Bed
0Bath
4,264Sqft
12,016Lot
Year Built
1988
Close
-
List price
$1.63M
Original List price
$1.65M
Price/Sqft
$382
HOA
-
Days on market
-
Sold On
-
MLS number
DW24242727
Home ConditionFair
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.63M(86th), sqft - 4264(86th), beds - undefined(50th), baths - undefined(50th).
Rare opportunity to own a large duplex in the heart of Downey! Built in 1988 and sitting on a generous 12,016 sqft lot. This property offers plenty of space, comfort and versatility. Front unit offers 5 bedrooms, 2 bathrooms and an inviting spacious layout with over 3,000 sqft. Back unit has 2 bedrooms, 2 bathrooms with a private entrance and cozy charm. Both units feature their own 2-car garages, central air, ample parking and much more. Conveniently located near schools, shopping, dining, and major freeways. This property is perfect for investors. Don't miss out on this exceptional find!
Price History
Date
Event
Price
07/30/21
Sold
$1,200,000
08/06/14
Sold
$605,000
Condition Rating
Fair
Built in 1988, this property is 36 years old. While appearing well-maintained, the kitchens feature significantly outdated honey oak cabinets, older countertops, and dated black appliances, along with fluorescent box lighting. The flooring consists of older-style tiles and carpet. The bathrooms, though not fully detailed, appear consistent with the property's age. The home is functional but requires substantial aesthetic updates, particularly in the kitchens and bathrooms, to meet current market expectations and styles.
Pros & Cons
Pros
Income-Generating Duplex: This property is a large duplex, explicitly marketed for investors, offering two separate units for potential rental income or multi-generational living.
Generous Lot Size: Sitting on a substantial 12,016 sqft lot, the property provides ample outdoor space, potential for expansion, or enhanced privacy.
Spacious Units & Ample Parking: The front unit boasts 5 beds/2 baths over 3,000 sqft, while the back unit has 2 beds/2 baths. Both include their own 2-car garages and additional parking, offering comfort and convenience.
Central Air Conditioning: Both units are equipped with central air conditioning, a desirable amenity that enhances tenant comfort and property value, especially in warmer climates.
Prime Downey Location: Located in the 'heart of Downey,' the property offers convenient access to schools, shopping, dining, and major freeways, appealing to a broad range of potential tenants or owner-occupants.
Cons
Extended Time on Market & Price Reduction: The property has been active on the market since December 2024 and has already seen a price reduction from its original list price, potentially indicating overpricing or a lack of buyer interest at the current valuation.
Potential for Dated Interiors: Built in 1988, the property is over 35 years old. The description does not mention any recent renovations, suggesting that interiors (kitchens, bathrooms, flooring) may be dated and require significant investment to modernize and maximize rental income or appeal.
High Initial Investment: With a list price of $1.6M+, this property represents a substantial investment, which may narrow the pool of potential buyers, despite its income-generating potential.