7317 Richfield Street Pending Save Request In-Person Tour Request Virtual Tour
Paramount,CA 90723
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 4,620 sqft
Price per Sqft $346
MLS Listing ID CRSB24199767
HOA Y/N No
Originating Board Datashare California Regional
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
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate
Fireplace No
Laundry Other,In Kitchen
Exterior
View None
Parking Type Assigned
Building
Water Public