NOT LISTED FOR SALE

7224 Walnut Ave Paramount, CA 90723

16 Beds
8 Baths
6,528 Sq Ft
0.36 Acres

Last Sold August 18, 2023

Last sale price $2,150,000 $329 Per Sq Ft

50 Days on Market

Highlights

  • Community Stables
  • No HOA
  • Laundry Room
  • 0.36 Acre Lot
  • Cul-De-Sac

About This Home

As of August 2023

7224 Walnut Ave consists of eight large 2 bed + 1 bath units at the end of a quiet cul-de-sac in a single family residential neighborhood. The buildings were constructed in 1965 and boast a large 15,742 sq ft lot. There are washer and dryer hookups inside of each unit and select units have balconies or fenced yards. The property backs up to an equestrian center. There is approximately 50% upside in rental income and no city-specific rent control ordinance.

Last Agent to Sell the Property

Justin White

Justin White License #01267826 Listed on: 05/30/2023

Last Buyer's Agent

Edward Uriarte

COMPASS License #01102702

COMPASS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 0.36 Acre Lot
  • Two or More Common Walls
  • Cul-De-Sac

Home Design

  • Split Level Home
  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 6,528 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 8 Bathrooms

Laundry

  • Laundry Room
  • Washer and Electric Dryer Hookup

Location

  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Assessor Parcel Number 6236016011

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 8 Units

Recreation

  • Community Stables

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Gardener Expense $1,615
  • Insurance Expense $4,500
  • Maintenance Expense $5,600
  • Professional Management Expense $8,395
  • Trash Expense $3,241
  • Water Sewer Expense $1,100
  • New Taxes Expense $29,375
  • Operating Expense $58,226
  • Gross Income $139,920
  • Net Operating Income $74,698

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • CapRate: 3.18
  • Price Per Unit: 293750
  • Professional Management Expense: 8395.00
  • Property Attached: Yes
  • Water Sewer Expenses: 1100.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1615.00
  • Parcel Number: 6236016011
  • Year Built: 1965
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Multi/Split
  • Price Per Square Foot: 329.35

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 3241.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Stable(s), Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Cul-De-Sac, Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 15743.00
  • Lot Size Acres: 0.3614

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 139920.00
  • Gross Multiplier: 16.80
  • Gross Scheduled Income: 139920.00
  • Insurance Expense: 4500.00
  • Lot Size Area: 15743.0000 Square Feet
  • Maintenance Expense: 5600.00
  • Net Operating Income: 74698.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Total: 8
  • Operating Expense: 58226.00
  • Rent Control: Yes
  • Total Expenses: 58226.00

Tax Info

  • New Taxes Expense: 29375.00

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/18/2023 08/18/23 Sold $2,150,000 -8.5% $329 / Sq Ft
05/30/2023 05/30/23 For Sale $2,350,000 -- $360 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Justin White

    Seller's Agent in 2023

    Justin White

    Justin White

    (714) 231-2537

    1 in this area

    42 Total Sales

    Justin White
    Section Image
  • Edward Uriarte

    Buyer's Agent in 2023

    Edward Uriarte

    COMPASS

    (310) 463-2270

    1 in this area

    42 Total Sales

    Edward Uriarte
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW23094650

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Paramount 90723

7224 Walnut Ave, Paramount, CA

This home is located at 7224 Walnut Ave, Paramount, CA 90723 since 30 May 2023. This property was built in 1965. 7224 Walnut Ave is a home located in Los Angeles County with nearby schools including Hollydale School, Alondra Middle School, and Paramount High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Nearby Homes