Paramount, CA 90723,7317 Richfield ST #5
Paramount, CA 90723,7317 Richfield ST #5
Paramount, CA 90723,7317 Richfield ST #5
50
$1,650,000
$1,599,000
3.2%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

0.42 Acres Lot

7317 Richfield ST #5 Paramount, CA 90723

Est. payment /mo
SOLD DATE : 11/18/2024

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP

Key Details

Sold Price $1,650,000

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

MLS Listing ID SB24199767

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

Zoning PARM*

Interior

Heating Wall Furnace

Cooling None

Flooring Laminate

Fireplaces Type None

Laundry Gas Dryer Hookup, In Kitchen

Exterior

Parking Features 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

Building

Lot Description 11-15 Units/Acre

Story 1

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash to New Loan, 1031 Exchange

Listing Terms Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

Read Less


California Regional MLS (CRMLS)
Listed by George Wang • Harvest Realtors, Inc. • 310-347-1300
Bought with George Wang • Harvest Realtors, Inc.

GET MORE INFORMATION

Todd Kingsley

Agent | License ID: 02118744

+1(310) 710-8633

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.

Mortgage Calculator

Price of Homes
$
Down Payment
$
Loan Term
Interest Rate
Home Insurance (optional)
$
Property Tax (optional)
$
Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.