8324 Alameda, Downey, California 90242, Downey, 90242 - bed, bath
ACTIVE$2,500,000
8324 Alameda, Downey, California 90242
0Bed
0Bath
5,424Sqft
10,072Lot
Year Built
1962
Close
-
List price
$2.5M
Original List price
$2.5M
Price/Sqft
$461
HOA
-
Days on market
-
Sold On
-
MLS number
PW25255820
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros.
Fantastic investment opportunity in the heart of Downey! This 8-unit complex features a total of 10 bedrooms and 10 bathrooms across all units. The property offers an on-site shared laundry room for tenant convenience and includes 10 parking spaces located in the rear. There is a 12 month cash flow attached in the supplements.
Price History
Date
Event
Price
11/07/25
Listing
$2,500,000
Condition Rating
Poor
Built in 1962, this property shows significant age and a lack of major renovations in the past 50+ years. The kitchen features extremely dated wooden cabinets, laminate countertops, and an old gas range. The bathroom is characterized by vintage pink/peach wall tiles and outdated fixtures. Flooring appears worn, and cooling is handled by individual wall-mounted AC units, indicating older, less efficient systems. While the exterior appears maintained, the interiors require substantial rehabilitation and replacement of major components to meet modern standards.
Pros & Cons
Pros
High-Density Multi-Unit: An 8-unit complex offers substantial rental income potential and portfolio diversification for investors, maximizing revenue streams from a single property.
Strategic Location: Situated 'in the heart of Downey,' a desirable Southern California city, ensuring strong rental demand, tenant retention, and potential for property value appreciation.
Tenant-Friendly Amenities: Includes an on-site shared laundry room for tenant convenience and a generous 10 dedicated parking spaces, significantly enhancing property appeal and marketability.
Proven Cash Flow Transparency: The availability of a '12 month cash flow attached in the supplements' indicates transparent and potentially robust financial performance, appealing to serious investors seeking clear returns.
Investment-Grade Asset: Explicitly marketed as a 'Fantastic investment opportunity,' aligning with its multi-unit structure and amenities, positioning it as a prime asset for income generation.
Cons
Property Age: Built in 1962, the property is over 60 years old, suggesting potential for significant capital expenditures on aging systems, infrastructure, and cosmetic updates to meet modern standards.
Potential for Deferred Maintenance: Older multi-unit properties often carry the risk of deferred maintenance, which could necessitate substantial immediate or future investment to maintain property standards and tenant satisfaction.
Mixed-Use Sub-type Ambiguity: While listed as 'Mixed Use,' the description focuses solely on residential units, which could imply zoning complexities or underutilized commercial potential requiring further due diligence to clarify its highest and best use.