Excellent value-add opportunity in the heart of Paramount. This rare 5-unit bungalow/cottage-style multifamily property offers a highly desirable layout consisting of one duplex and three detached units, creating a private single-family-home feel that tenants love. Properties with this type of configuration are rarely available and are highly attractive. All five units feature 2 bedroom and 1 bathroom, and each unit includes a one-car garage, a highly desirable amenity. Current rents are $2,200, $1,900, $1,900, $1,900, $1,980. Are units are now month to month. The property sits on a large approximately 0.52-acre lot and offers about 4,500+ square feet of living space, providing investors with both current income and future potential. The oversized lot may also offer potential for adding additional units (buyer to verify with the city.) Several long-term tenants provide stable occupancy, while the property presents significant upside potential through renovations and rental increases. The unique layout, garage parking, and spacious lot make this an appealing investment for buyers seeking both stability and long-term growth. Ideally located north of the California State Route 91 with convenient access to major freeways including Interstate 605, Interstate 710, and Interstate 105, providing easy connectivity to employment centers throughout Los Angeles County. Nearby shopping, dining, and entertainment can be found at Lakewood Center and Downey Landing, with convenient proximity to the job centers and amenities of Long Beach. With its rare cottage-style configuration, garage parking for every unit, stable occupancy, large lot, and strong value-add potential, this property represents an excellent opportunity for investors looking to add a well-located multifamily asset to their portfolio.
Property Details
Price:
$1,625,000
MLS #:
PW26048011
Status:
Pending
Beds:
0
Baths:
0
Type:
Single Family
Subtype:
Apartment
Neighborhood:
rkparamountsouthofsomerset
Listed Date:
Mar 7, 2026
Total Sq Ft:
4,509
Lot Size:
22,657 sqft / 0.52 acres (approx)
Year Built:
1962
See this Listing
Schools
Interior
Flooring
CARP
Laundry Features
NO
Levels
A
Exterior
Common Walls
NCW
Community Features
CRB
Garage Spaces
5
Parking Spots
10
Parking Total
10
Roof
CMP
Spa Features
NO
View
NE
Financial
Maintenance Fee
$3,750
Map
Community
- Address16840 Passage Paramount CA
- CityParamount
- CountyLos Angeles
- Zip Code90723
Market Summary
Current real estate data for Single Family in Paramount as of Apr 21, 2026
57
Single Family Listed
86
Avg DOM
342
Avg $ / SqFt
$553,950
Avg List Price
Property Summary
- 16840 Passage Paramount CA is a Single Family for sale in Paramount, CA, 90723. It is listed for $1,625,000 and features 0 beds, 0 baths, and has approximately 0 square feet of living space, and was originally constructed in 1962. The average price per square foot for Single Family listings in Paramount is $342. The average listing price for Single Family in Paramount is $553,950.
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