7321 Richfield Street,Paramount, CA 90723
Paramount, CA 90723
Description
Just Listed! Exceptional opportunity to acquire a 7-unit multifamily property in the city of Paramount, featuring a desirable combination of three detached single-story Cottages and a two-story Fourplex. Delivering an attractive 6% current CAP Rate and 11.26 GRM, this investment offers strong day-one cash flow, spacious floor plans, and a unique residential setting that distinguishes it from traditional apartment properties. Situated on a generous 18,708 sq. ft. lot, the property features an excellent unit mix consisting of one 3-Bedroom/1-Bath detached cottage with a 2-car garage, two 2-Bedroom/1-Bath cottages with attached garages, and four 2-Bedroom/1-Bath units within the fourplex. Totaling approximately 6,826 rentable square feet, the property's large units and detached cottage configurations offer added privacy and appeal to discerning renters seeking more spacious living accommodations. Residents enjoy desirable amenities including private yards, individual laundry hookups, and ample onsite parking. The property has also benefited from improvements including copper plumbing and updated interiors, while air conditioning in all units provides additional comfort and convenience. Ideally located in Paramount with convenient access to the 105, 710, 605, and 91 freeways, the property offers excellent connectivity to surrounding employment centers and is situated near schools, parks, shopping, and dining. Combining strong current cash returns, a desirable mix of detached cottages and apartment units, substantial land area, and an excellent location, this offering presents an outstanding opportunity for investors seeking a well-positioned multi-family asset with lasting rental appeal.
Details
| MLS # | CV26227051 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1962 |
| Days On Site | 7 |
| Listing Provided By | RE/MAX 2000 REALTY | Kristopher German |
Features
| SQ Feet | 6,826 |
|---|---|
| Garage | 4 |
| Story(s) | 1 |
| Units | 7 |
| Building(s) | 3 |
| Zoning | PARM* |
| Acreage | 0.43 |
| Property View | None |
Interior
| Cooling | Wall Window Units |
|---|---|
| Cooling Yes / No | Yes |
| Fireplace Yes / No | No |
Exterior
| Roof | Shingle |
|---|---|
| Lot Features | Zero To One Unit Acre |
| Fencing | Block |
Parking
| Parking Features | Assigned, Garage, Paved |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Utilities | Electricity Available, Natural Gas Available, Sewer Available, Water Available |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Street Lights, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Paramount |
| Zip Code | 90723 |
| Area | RL Paramount North of Somerset |
| Listing VS Median (in 90723) | |
Price: $1,995,000 low | high Med: $534,500 sqft: 6,826 low | high Med: 1,223 $ / sqft: $292 low | high Med: $525 On site: 7 low | high Med: 155 | |
Market Activity 90723
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Paramount |
| Zip Code | 90723 |
| Area | RL Paramount North of Somerset |
| Listing VS Median (in 90723) | |
Price: $1,995,000 low | high Med: $534,500 sqft: 6,826 low | high Med: 1,223 $ / sqft: $292 low | high Med: $525 On site: 7 low | high Med: 155 | |
 | $1,999,88814045 Garfield Ave.Paramount, CA 90723 |