Paramount, CA 90723,7317 Richfield ST

$1,650,000

Est. payment /mo

$1,599,000

3.2%
Est.Price: ?

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7317 Richfield ST Paramount, CA 90723

0.42 Acres Lot

SOLD DATE : 11/18/2024

Key Details

Sold Price $1,650,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID CRSB24199767

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

Special Listing Condition Not Applicable

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MLS Listing IDX PLUS
Listed by George Wang • Harvest Realtors, Inc.
Bought with George Wang

The Walker Team

Agent | License ID: 01244287

+1(650) 383-7298

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