Diana & Jason Jones

Diana & Jason Jones

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$469,000

($255,856 down)
FHA

16211 Downey Avenue UNIT 73, Paramount, CA 90723

1
1
804 sqft
PITI Monthly
$2,016.36 /mo

Listing courtesy of: Mary Robles, Pak Home Realty

Assumed Rate

3.92%
7.15%

Principal & Interest

$1,184 /mo
$1,691 /mo

What's Special

REMODELED
SHOPPING
DINING
SPACIOUS
MODERN
BREAKFAST NOOK
FIREPLACE
VAULTED CEILINGS
PATIO
LANDSCAPED
COMMUNITY POOL
COZY

Step into comfort and style in this beautifully updated 1-bedroom, 1-bath condo located in the tranquil Lake Terrace community in Paramount. This upper-level unit features vaulted ceilings, an open floor plan, and plenty of natural light, creating a bright and welcoming space. Enjoy cozy evenings by the fireplace in the spacious living room and cook with ease in the tastefully remodeled kitchen, complete with modern finishes, updated maplewood cabinetry, and plenty of space in the kitchen for a breakfast nook. Additional comforts include in-unit laundry and a large private patio, ideal for relaxing or entertaining. The home includes two assigned parking spots and is surrounded by beautifully landscaped grounds. Residents of Lake Terrace enjoy access to a sparkling community pool, perfect for cooling off on warm California days. Conveniently located near shopping, dining, and major freeways, this move-in-ready condo offers comfort, style, and convenience in a peaceful setting.

... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
3.92
Remaining Loan Term
22 years, 9 months
Monthly PITI
$2,016.36/mo
Estimated Loan Balance
$214,597
Cash to close
$255,856
Interest Paid
$66,243

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 1
  • Bathrooms: 1
Cooling & Heating
  • Cooling: CentralAir
  • Heating: Central, Fireplaces
Features
  • Materials: Unknown
  • Community: Unknown
  • Has Fireplace: Yes
  • Fireplace Features: FreeStanding, Gas, LivingRoom
  • Flooring: Laminate, Tile

Exterior

Fencing
  • Fencing: Brick
Roof
  • Roof: Other
Parking
  • Garage: No
  • Garage Spaces: 0
  • Carport: Yes
  • Carport Spaces:
Water
  • Sewer: PublicSewer
  • Water Source: Public
Pool
  • Has Pool: No
  • Pool Features: Community, InGround, Association

Construction

Type & Style
  • Stories: 1
  • Home type: Condominium
  • Architectural Style: Traditional
Materials
  • Unknown
  • Roof: Other
Condition
  • Year Built: 1981
Details
  • Builder:

Community & HOA

Community
  • Subdivision:
  • Features: Lake, Gated, Pool
HOA
  • Has HOA: Yes
  • HOA Name: Lake Terrace
  • HOA Amenities: Unknown
  • HOA Fee: $414
  • HOA Frequency: $Monthly
Location
  • Region: Paramount

Financial Details

  • Price per Sqft: $583.33
  • Tax Annual Amount: $5862.5
  • On Market Date: 2025-05-08T00:00:00.000Z
Inquire about this property

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Apply to Assume

Fill out an application to explore financing options for assuming this loan.

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Savings Calculator

Current cash to close is $255,856 (55%)
You can enter any amount below - secondary financing will cover the difference if needed.
55%
$

You cover the entire equity of $255,856!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage3.92% Sellers Rate
$213,144
Your Cash:$255,856
Total Purchase Price:$469,000

Assumed vs Traditional Mortgage

Assumed @ 3.92%
$1,184/mo
Traditional @ 7.15%
$1,754/mo
You save $570/month ($6,843/year)

*Secondary financing rates are an estimated value based on input

MLS ID: DW25099514

Listing From:

Last updated: 2025-05-09T13:42:03.000Z

© , CRMLS. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

3.92%
7.15%

Principal & Interest

$1,184 /mo
$1,691 /mo
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $255,856 (55%)
You can enter any amount below - secondary financing will cover the difference if needed.
55%
$

You cover the entire equity of $255,856!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage3.92% Sellers Rate
$213,144
Your Cash:$255,856
Total Purchase Price:$469,000

Assumed vs Traditional Mortgage

Assumed @ 3.92%
$1,184/mo
Traditional @ 7.15%
$1,754/mo
You save $570/month ($6,843/year)

*Secondary financing rates are an estimated value based on input

Follow Us
Coldwell Banker Realty
Agent/Broker
Diana & Jason JonesColdwell Banker Realty(602) 790-0734diana.jones@cbrealty.comMLS SA711064000

© Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Listing Service. Real estate listings held by brokerage firms other than Coldwell Banker Realty are marked with the Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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