Paramount, CA 90723,7317 Richfield Street
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Paramount, CA 90723,7317 Richfield Street
Paramount, CA 90723,7317 Richfield Street
Paramount, CA 90723,7317 Richfield Street
Paramount, CA 90723,7317 Richfield Street

$1,650,000

Est. payment /mo

$1,599,000

3.2%
Est.Price: ?

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7317 Richfield Street Paramount, CA 90723

4,620 SqFt

SOLD DATE : 11/18/2024

Key Details

Sold Price $1,650,000

Property Type Commercial

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 4,620 sqft

Price per Sqft $357

MLS Listing ID CRSB24199767

Sold Date 11/18/24

HOA Y/N No

Year Built 1962

Lot Size 0.423 Acres

Acres 0.42

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 Listing

Zoning PARM

Interior

Heating Wall Furnace

Cooling None

Flooring Laminate

Fireplace No

Laundry Other, In Kitchen

Exterior

View Y/N false

View None

Building

Sewer Public Sewer

Water Public

New Construction No

Others

Tax ID 6241020016

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Bridge MLS
Listed by George Wang • Harvest Realtors, Inc.
Bought with GeorgeWang
agent

Jodi Nishimura

Founder & Realtor® | License ID: 01762935

+1(510) 459-0471

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