7317 Richfield Street #5
Paramount, CA 90723
0.42 acres | #SB24199767
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 Details
- InteriorAllBedroomsDown
Property Details
- Lot DescriptionElevenToFifteenUnitsAcre
- Stories1
Measurements
- Acres0.4226
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1962
Utilities / Energy Details
- Utility FeaturesCableAvailable, ElectricityConnected, NaturalGasConnected, PhoneAvailable
- Sewer InformationPublicSewer
- Utility SourcePublic
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$1,599,000
Other
- MLS #SB24199767
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: George Wang (#sbwanggeo)
Listing Office: Harvest Realtors, Inc. (#SB1294140)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
