7317 Richfield ST #5

Paramount,CA 90723

$ 1599000

- Bed

- Bath

4620 SqFt


Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 4,620 sqft

Price per Sqft $346

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*

Rooms

Ensuite Laundry Gas Dryer Hookup,In Kitchen

Interior

Laundry Location Gas Dryer Hookup,In Kitchen

Heating Wall Furnace

Cooling None

Flooring Laminate

Fireplaces Type None

Laundry Gas Dryer Hookup,In Kitchen

Exterior

Garage 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

View More
Favorite Go Tour