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7317 Richfield ST Paramount, CA 90723
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Key Details
Sold Price $1,650,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRSB24199767
Sold Date 11/18/24
Originating Board California Regional MLS
Year Built 1962
Lot Size 0.423 Acres
Property 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!
Location
State CA
County Los Angeles
Area Rl - Paramount North Of Somerset
Rooms
Kitchen None
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate
Laundry Gas Hookup, In Kitchen
Exterior
Garage Assigned Spaces
Pool 31, None
View None
Building
Story One Story
Water District - Public
Others
Tax ID 6241020016
Special Listing Condition Not Applicable
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Bought with George Wang