NOT LISTED FOR SALE

15803 Passage Ave Paramount, CA 90723

Estimated Value: $1,228,000 - $1,457,000

9 Beds
5 Baths
3,448 Sq Ft
$384/Sq Ft Est. Value

Last Sold July 10, 2024

Last sale price $1,250,000 $363 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $7,260/month

17 Days on Market

About This Home

As of July 2024

15803 Passage Avenue is a 4-unit multifamily investment asset located in the highly desirable rental market of Paramount. The property features (1) 3-bed/2-bath unit and (3) 2-bed/1-bath units, garage parking, and an onsite laundry facility. The city of Paramount does not have local rent control, offering significant potential for increased rents. The subject property has been owned by the same family for over 30 years and is an outstanding investment opportunity because of its great location and rental upside. The city of Paramount is subject to AB 1482, which currently allows for annual rent increases of up to 8.9%. All offers must include a current proof of funds and a pre-approval letter.

Last Agent to Sell the Property

Nicholas Petrosian

Remax Commercial and Investment Realty License #01462598 Listed on: 05/22/2024

Remax Commercial and Investment Realty

Last Buyer's Agent

Ronald Perez

Jason Mitchell Real Estate California, Inc. License #01325218

Jason Mitchell Real Estate California, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 6,392 Sq Ft Lot
  • Lot Dimensions are 60x110

Parking

  • 5 Car Attached Garage

Interior Spaces

  • 3,448 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Bathrooms

Utilities

  • Heating System Mounted To A Wall or Window

Community Details

  • 4 Units

Listing and Financial Details

  • Assessor Parcel Number 6268-016-029

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Parking

5

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 3448
  • Lot Acreage: 0.1467
  • Lot Dimensions: 60x110
  • Probate: No
  • Stories: 2
  • Year Built: 1963
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 9
  • Total Bathrooms: 5.00
  • Price Per S Q F T: 346.58

Exterior Features

  • Other Structures: None

Garage/Parking

  • Garage Spaces: 5
  • Parking Garage: Garage Is Attached
  • Total Parking: 4

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 74.76
  • Assessed Improvement Value: 164347
  • Assessed Land Percent: 25.24
  • Assessed Land Value: 55490
  • Total Assessed Value: 219837
  • Assessor Parcel Number: 6268-016-029
  • Lot Size Area: 6392

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 15.30
  • Number Of Units: 4
  • Type Of Units: Multifamily

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 22, 2024
Closed on
Jul 3, 2024
Sold by
Meta R Morrison Trust and Morrison Frank
Bought by
Eric And Mandy Hwang Trust and Hwang
Seller's Agent
Nicholas Petrosian
Remax Commercial and Investment Realty
Buyer's Agent
Ronald Perez
Jason Mitchell Real Estate California, Inc.
List Price
$1,195,000
Sold Price
$1,250,000
Premium/Discount to List
$55,000
4.6%
Views
42
Current Estimated Value
$1,325,406

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$75,406
Avg. Annual Appreciation
4.12%
Original Mortgage
$937,500
Outstanding Balance
$923,886
Interest Rate
7.03%
Mortgage Type
New Conventional
Estimated Equity
$401,520

Purchase Details

Listed on
May 22, 2024
Closed on
Jun 18, 2024
Sold by
Meta R Morrison Trust and Morrison Frank
Bought by
Eric And Mandy Hwang Trust and Hwang
Seller's Agent
Nicholas Petrosian
Remax Commercial and Investment Realty
Buyer's Agent
Ronald Perez
Jason Mitchell Real Estate California, Inc.
List Price
$1,195,000
Sold Price
$1,250,000
Premium/Discount to List
$55,000
4.6%
Views
42

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$937,500
Outstanding Balance
$923,886
Interest Rate
7.03%
Mortgage Type
New Conventional
Estimated Equity
$401,520

Purchase Details

Closed on
Jul 5, 2000
Sold by
Morrison Meta R
Bought by
Morrison Meta R and Meta R Morrison Family Trust
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Eric And Mandy Hwang Trust $1,250,000 Chicago Title Company
Eric And Mandy Hwang Trust $1,250,000 Chicago Title Company
Morrison Meta R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Eric And Mandy Hwang Trust $937,500
Closed Eric And Mandy Hwang Trust $937,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/10/2024 07/10/24 Sold $1,250,000 +4.6% $363 / Sq Ft
06/08/2024 06/08/24 Pending -- -- --
05/22/2024 05/22/24 For Sale $1,195,000 -- $347 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,036 $1,250,000 $700,000 $550,000
2024 $4,036 $224,232 $56,599 $167,633
2023 $3,972 $219,837 $55,490 $164,347
2022 $3,879 $215,527 $54,402 $161,125
2021 $3,783 $211,302 $53,336 $157,966
2019 $3,842 $206,417 $51,755 $154,662
2018 $3,547 $202,398 $50,741 $151,657
2016 $3,209 $193,215 $48,772 $144,443
2015 $3,060 $190,314 $48,040 $142,274
2014 $3,132 $186,587 $47,099 $139,488
Source: Public Records

Agents Affiliated with this Home

  • Nicholas Petrosian

    Seller's Agent in 2024

    Nicholas Petrosian

    RE/MAX

    (949) 607-7096

    2 in this area

    50 Total Sales

    Nicholas Petrosian
    Section Image
  • Ronald Perez

    Buyer's Agent in 2024

    Ronald Perez

    Jason Mitchell Real Estate California, Inc.

    (818) 749-2979

    6 in this area

    70 Total Sales

    Ronald Perez
    Section Image
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Map

Source: The MLS

MLS Number: 24-395045

The MLS

APN: 6268-016-029

California Los Angeles County Paramount 90723

15803 Passage Ave, Paramount, CA

Not Listed for Sale

MultiFamily

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