7317 Richfield Street #5Paramount, CA 90723
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!
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site2 Days
- MLS StatusActive
- MLS ID NumberSB24199767
- Home Size Source N/A
- Year Built1962
- Lot Size0.4226 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Assigned
- Parking Spaces 0
- Sewer Public Sewer
- Number of Stories 11
- Acreage 0.4226
- Water Public
- Garage Spaces 0
- Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone Available
- Zoning PARM*
- Listing Conditions Standard
Interior Features
- Cooling None
- Heating Wall Furnace
- Appliances None
- Flooring Laminate
- Fireplace Features None
- Laundry Features Gas Dryer HookupIn Kitchen
- Fireplace No
Exterior Features
- View None
- Spa No
- Pool Features None
- Spa Features None
- Lot 11-15 Units/ Acre
- Road Frontage City Street
Community Features
- Association Dues 0
- Community Features SidewalksStorm DrainsStreet LightsSuburban
- Senior Community No
- MLS Area RL - Paramount North of Somerset