7317 Richfield Street, #5, Paramount, CA 90723
-
Listed Price :
$1,599,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
-
Year Built :
1962
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!
Interior Features
| Laundry Information |
| Location(s) |
Gas Dryer Hookup, In Kitchen |
| Bedroom Information |
| Features |
All Bedrooms Down |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
| Flooring Information |
| Material |
Laminate |
| Interior Information |
| Features |
All Bedrooms Down |
| Cooling Type |
None |
Listing Information
| Address |
7317 Richfield Street, #5 |
| City |
Paramount |
| State |
CA |
| Zip |
90723 |
| County |
Los Angeles |
| Listing Agent |
George Wang DRE #01751924 |
| Courtesy Of |
Harvest Realtors, Inc. |
| List Price |
$1,599,000 |
| Status |
Active Under Contract |
| Type |
Residential Income |
| Subtype |
Mixed Use |
| Structure Size |
N/A |
| Lot Size |
18,407 |
| Year Built |
1962 |
Listing information courtesy of: George Wang, Harvest Realtors, Inc.. *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.
