9246 Manzanar Avenue, Downey, California 90240, Downey, 90240 - 4 bed, 4 bath

9246 Manzanar Avenue, Downey, California 90240 home-pic-0
ACTIVE$1,395,000
9246 Manzanar Avenue, Downey, California 90240
4Beds
4Baths
1,895Sqft
7,503Lot

Price Vs. Estimate

The estimated value ($861,492.495) is $533,507.505 (38%) lower than the list price ($1,395,000). This property may be overpriced.

Key pros and cons

Top Pros:
Extensive Modern Remodel: The home has undergone a beautiful and thoughtful remodel, featuring an elegant open layout, new flooring, crown molding, recessed lighting, and a sleek kitchen with granite countertops and a large center island, offering contemporary style and move-in readiness.
Top Cons:
Significant Overpricing: The current list price of $1,395,000 is substantially above the property's estimated value of $861,492 and recent comparable sales, indicating a considerable overvaluation in the current market.

Compared to the nearby listings

Price:$1.40M vs avg $1.00M (+$394,912.5)72%
Size:1,895 sqft vs avg 1,828 sqft56%
Price/sqft:$736 vs avg $54889%

More Insights

Built in 1950 (75 years old).
Condition: Despite being built in 1950, this property has undergone a comprehensive and recent remodel, as indicated by the description of 'beautifully remodeled' and 'thoughtfully upgraded' features. The listing highlights 'new flooring, crown molding, and recessed lighting throughout,' a 'sleek kitchen' with granite countertops, a large center island, and updated cabinetry, and 'four updated bathrooms.' Crucially, major systems such as the roof, copper plumbing, and central heating and cooling are 'brand-new.' These extensive updates bring the property to current quality standards, making it virtually new in terms of its livable components and systems, aligning perfectly with the 'Excellent' criteria for a recently and extensively renovated home.
Year Built
1950
Close
-
List price
$1.4M
Original List price
$1.5M
Price/Sqft
$736
HOA
-
Days on market
-
Sold On
-
MLS number
SR25084889
Home ConditionExcellent
Features
Patio
View-

About this home

Step into modern elegance with this beautifully remodeled Downey home, perfectly situated on a generous 7,500 SF lot. Offering four spacious bedrooms and four updated bathrooms across 1,895 SF, this home has been thoughtfully upgraded to combine contemporary style with lasting quality. Inside, you'll find an elegant open layout, new flooring, crown molding, and recessed lighting throughout creating a bright and refined atmosphere. The sleek kitchen is a standout, featuring granite countertops, a large center island, and updated cabinetry ideal for both everyday living and entertaining. The living room welcomes you with a striking granite-accented fireplace that adds a touch of luxury and warmth. Additional highlights include a brand-new roof, copper plumbing, and central heating and cooling for year round comfort. Outside, enjoy a spacious grassy yard, a concrete patio, and a detached two-car garage offering secure parking and storage. Ideally situated with convenient access to shopping centers, dining, top-rated schools, parks, and major freeways including the 5, 605, 710, and 105, this turnkey remodeled home is the perfect opportunity for modern living in the heart of Downey. Don’t miss your chance to make it yours.

Price History

Date
Event
Price
12/01/23
Sold
$865,000
Condition Rating
Excellent

Despite being built in 1950, this property has undergone a comprehensive and recent remodel, as indicated by the description of 'beautifully remodeled' and 'thoughtfully upgraded' features. The listing highlights 'new flooring, crown molding, and recessed lighting throughout,' a 'sleek kitchen' with granite countertops, a large center island, and updated cabinetry, and 'four updated bathrooms.' Crucially, major systems such as the roof, copper plumbing, and central heating and cooling are 'brand-new.' These extensive updates bring the property to current quality standards, making it virtually new in terms of its livable components and systems, aligning perfectly with the 'Excellent' criteria for a recently and extensively renovated home.
Pros & Cons

Pros

Extensive Modern Remodel: The home has undergone a beautiful and thoughtful remodel, featuring an elegant open layout, new flooring, crown molding, recessed lighting, and a sleek kitchen with granite countertops and a large center island, offering contemporary style and move-in readiness.
Comprehensive System Upgrades: Significant and costly updates including a brand-new roof, copper plumbing, and central heating and cooling system provide year-round comfort and reduce immediate maintenance concerns for a new owner.
High Bathroom-to-Bedroom Ratio: With four spacious bedrooms and four updated bathrooms, the property offers an exceptional level of convenience and luxury, a desirable feature for families or guests.
Generous Lot Size: Situated on a substantial 7,500 SF lot, the property provides ample outdoor space for a spacious grassy yard, concrete patio, and potential for further landscaping or recreational use.
Excellent Location & Accessibility: The home boasts a prime location in Downey with convenient access to shopping centers, dining, top-rated schools, parks, and major freeways (5, 605, 710, 105), enhancing its appeal for commuters and families.

Cons

Significant Overpricing: The current list price of $1,395,000 is substantially above the property's estimated value of $861,492 and recent comparable sales, indicating a considerable overvaluation in the current market.
Recent Price Reduction: An earlier price drop from $1,499,000 suggests the initial pricing strategy was too aggressive and may signal to potential buyers that the property is still overpriced, potentially prolonging its time on market.
Older Foundation/Structure: Despite extensive modern renovations, the home's original construction in 1950 means the underlying foundation and some structural elements are over 70 years old, which could lead to unforeseen maintenance or repair costs not covered by recent cosmetic and system upgrades.

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