Paramount, CA 90723,7317 Richfield Street
Paramount, CA 90723,7317 Richfield Street
Paramount, CA 90723,7317 Richfield Street
Listed by George Wang • Harvest Realtors, Inc.
$1,650,000
Est. payment /mo
Est.Price: ?

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4,620 SqFt
SOLD DATE : 11/18/2024

Key Details

Sold Price $1,650,000

Property Type Single Family Home

Listing Status Sold

Purchase Type For Sale

Square Footage 4,620 sqft

Price per Sqft $357

MLS Listing ID SB-24199767

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

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 Sidewalks, Storm Drains, Street Lights, Suburban

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available

View Y/N No

View None

Building

Lot Description 11-15 Units/Acre

Sewer Public Sewer

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Paul Ward

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Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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