7317 Richfield Street #5

Paramount, CA 90723

  • 0 Bed(s)
  • 0 Bath(s)
  • 4,620 Sqft
  • 18407
    Sqft(Lot)
$1,599,000

Description

Incredible investment opportunity – 5 detached units on a huge lot!



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!

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    47036652

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

    Interior Features

    • Interior Features: All Bedrooms Down
    • Fireplace: None
    • Flooring: Laminate

    Cooling Features

    • None
    • Air Conditioning

    Heating Source

    • Wall Furnace
    • Has Heating

    Fireplace

    • Fireplace Features: None
    • Has Fireplace: 0

  • Building Information

    • Year Built: 1962
    • Building Area Total: 4,620

    Pool Features

    • None

    Laundry Features

    • Gas Dryer Hookup,In Kitchen

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.4226
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 18407

  • Listing Price Information

    • Original List Price: 1,599,000
    • Listing Contract Date: 2024-09-25

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 6241020016

  • Garage and Parking

    • Garage Description: Assigned

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable
    • Tenant Pays: Electricity,Gas

  • Other Property Info

    • Source Listing Status: Active Under Contract
    • Source Neighborhood: RL - Paramount North of Somerset
    • Postal Code Plus 4: 3311
    • Directions: Garfield and Rosecrans
    • Zoning: PARM*
    • Source Property Type: Residential Income
    • Area: RL - Paramount North of Somerset
    • Property SubType: Mixed Use

    Building and Construction

    • Property Age: 62
    • Common Walls: No Common Walls
    • Structure Type: Mixed Use
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: 1
    • Levels or Stories: One
    • Building Total Stories: 1
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BuyOwner last updated this listing 11/05/2024 @ 03:25

  • MLS: SB24199767
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is recently sold, it has 4,620 sqft, 18,407 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Paramount , in zip code 90723, this Los Angeles County Home are nearby neighborhoods.