7317 Richfield ST #5 Paramount, CA 90723
UPDATED:
10/21/2024 05:08 PM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 4,620 sqft
Price per Sqft $346
MLS Listing ID SB24199767
HOA Y/N No
Year Built 1962
Lot Size 0.423 Acres
Acres 0.4226
Property Description
This rare investment property features 5 detached units, each with 2 bedrooms and 1 bathroom, located on an expansive 18,000 sq ft lot, offering endless potential for future development. Each unit boasts its own private yard space and indoor washer/dryer hookups, making these units highly desirable for tenants seeking privacy and convenience.
Currently, all units are occupied by long-term tenants, with rents significantly below market—an opportunity for substantial rental income growth. One unit has been remodeled, achieving current market rent of $2,700 per month. Tenants are responsible for electricity and gas, with each unit separately metered for both utilities, further reducing operating costs for the owner.
The lot also features ample parking for all tenants, adding to the property's appeal. Additionally, there is the possibility of adding an Accessory Dwelling Unit (ADU) for further income potential. This property is perfect for investors looking for stable cash flow with future upside through rent increases and development opportunities.
Don't miss this chance to own a prime multifamily property with great potential in a high-demand rental market!
Location
State CA
County Los Angeles
Area Rl - Paramount North Of Somerset
Zoning PARM*
Rooms
Ensuite Laundry Gas Dryer Hookup, In Kitchen
Interior
Interior Features All Bedrooms Down
Laundry Location Gas Dryer Hookup,In Kitchen
Heating Wall Furnace
Cooling None
Flooring Laminate
Fireplaces Type None
Fireplace No
Laundry Gas Dryer Hookup, In Kitchen
Exterior
Garage Assigned
Pool None
Community Features Storm Drain(s), Street Lights, Suburban, Sidewalks
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available
View Y/N No
View None
Parking Type Assigned
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 6241020016
Acceptable Financing Cash to New Loan, 1031 Exchange
Listing Terms Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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