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7317 Richfield Street, #5

Paramount, CA 90723

$1,599,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1962

calendar_month Built

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!

Listing Information

List Price $1,599,000
Status Active Under Contract
MLS SB24199767
HOA $0
Type Residential Income
Subtype Mixed Use
Year Built 1962
Lot Size 18,407
Structure Size N/A
DOM 25
Courtesy Of Harvest Realtors, Inc.
Listing Agent George Wang DRE#01751924

Interior Features

Laundry Information
Location(s) Gas Dryer Hookup, In Kitchen
Bedroom Information
Features All Bedrooms Down
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Laminate
Fireplace Information
Features None
Additional Information
Additional Features All Bedrooms Down
Cooling Type
Cooling Type None

Exterior Information

Maps

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Listing information courtesy of: George Wang, Harvest Realtors, Inc. 8664544878. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 21st, 2024 at 5:08 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.