7317 Richfield Street
Paramount, CA, 90723
$1,599,000
Beds
0 Baths
SqFt
0.42 Acres
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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&#39'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&#39't miss this chance to own a prime multifamily property with great potential in a high-demand rental market!

Property Details

Price:
$1,599,000
MLS #:
SB24199767
Status:
Active
Baths:
0
Address:
7317 Richfield Street
Type:
Residential Income
Subtype:
Commercial/Residential
Neighborhood:
rlparamountnorthofsomerset
City:
Paramount
Listed Date:
Sep 25, 2024
State:
CA
ZIP:
90723
Lot Size:
18,407 sqft / 0.42 acres (approx)
Year Built:
1962
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Schools

Interior

Appliances
None
Cooling
None
Fireplace Features
None
Flooring
Laminate
Heating
Wall Furnace

Exterior

Community Features
Sidewalks, Storm Drains, Street Lights, Suburban
Electric
Electricity – On Property
Garage Spaces
0.00
Lot Features
11-15 Units/ Acre
Parking Features
Assigned
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Spa Features
None
Stories Total
1
View
None
Water Source
Public

Financial

Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Cable Available, Electricity Connected, Natural Gas Connected, Phone Available

Map

Community

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7317 Richfield Street
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