NOT LISTED FOR SALE

7227 Richfield St Paramount, CA 90723

5 Beds
4 Baths
40,632 Sq Ft
1.3 Acres

Last Sold February 28, 2014

Last sale price $7,550,000 $186 Per Sq Ft

23 Days on Market

About This Home

As of February 2014

The subject property gives an investor the opportunity to purchase a newer, 1989 construction, property in an excellent in-fill rental location. The property offers an excellent unit mix, with 86% of the apartments being 2-bedroom units. Residents enjoy a large amount of covered parking, as well as multiple common areas. The apartments each have a balcony or patio and have been well-maintained by the current owner. New ownership will find a lack of competing newer construction product for rent, as well as very high barriers to entry, and should be able to increase the property’s
income with prudent management. A buyer is free to obtain new financing as well, allowing them to capitalize on today’s extremely low interest rates.

Last Agent to Sell the Property

Doug Rodermund

Morgan Skenderian License #01314304 Listed on: 01/09/2014

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1989

Lot Details

  • 1.3 Acre Lot
  • 1 Common Wall
  • Density is 2-5 Units/Acre

Home Design

  • 40,632 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Parking

  • 87 Parking Spaces
  • Subterranean Parking
  • Parking Available

Listing and Financial Details

  • Legal Lot and Block 4 / A
  • Tax Tract Number 11345
  • Assessor Parcel Number 6241020065

Community Details

Overview

  • 6 Buildings
  • 43 Units

Building Details

  • 44 Separate Electric Meters
  • 44 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $3,600
  • Insurance Expense $10,158
  • Maintenance Expense $44,226
  • Other Expense $6,200
  • Pest Control $1,650
  • Professional Management Expense $24,008
  • Trash Expense $20,689
  • Water Sewer Expense $20,689
  • New Taxes Expense $94,277
  • Gross Income $52,650
  • Net Operating Income $355,062

Property Details

Home Type

Multi-Family

Year Built

Built in 1989

Lot Details

0

Listing Details

  • CapRate: 4.70
  • Professional Management Expense: 24008.00
  • Property Attached: Yes
  • Water Sewer Expenses: 20689.00
  • Property Type: Residential Income
  • Gardener Expense: 3600.00
  • Parcel Number: 6241020065
  • Year Built: 1989
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 185.81

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Subterranean
  • Total Parking Spaces: 87.00

Utilities

  • Utilities: Sewer Available
  • Pest Control Expense: 1650.00
  • Trash Expense: 20689.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs

Lot Info

  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 56768.00
  • Lot Size Acres: 1.3030

Multi Family

  • Gross Income: 52650.00
  • Gross Multiplier: 11.89
  • Gross Scheduled Income: 631800.00
  • Gross Spendable Income: 61714.00
  • Insurance Expense: 10158.00
  • Lot Size Area: 56768.0000 Square Feet
  • Maintenance Expense: 44226.00
  • Maintenance Percent: 7.00
  • Net Operating Income: 355062.00
  • Number Of Separate Electric Meters: 44
  • Number Of Separate Gas Meters: 44
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 43
  • Operating Expense: 245148.00
  • Operating Expense Percent: 38.80
  • Other Expense: 6200.00
  • Other Expense Description: Ad/Admin
  • Rent Control: No
  • Total Actual Rent: 51900.00
  • Vacancy Allowance: 31590
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 94277.00
  • Tax Block: A
  • Tax Lot: 4
  • Tax Tract Number: 11345

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 Change Sq Ft Price
02/28/2014 02/28/14 Sold $7,550,000 0.0% $186 / Sq Ft
02/01/2014 02/01/14 Pending -- -- --
01/09/2014 01/09/14 For Sale $7,550,000 -- $186 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Doug Rodermund

    Seller's Agent in 2014

    Doug Rodermund

    Morgan Skenderian

    (949) 295-8560

    21 Total Sales

    Doug Rodermund
    Section Image

  • N

    Buyer's Agent in 2014

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    9 in this area

    5,812 Total Sales

    NoEmail NoEmail
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW14005941

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

7227 Richfield St, Paramount, CA

This home is located at 7227 Richfield St, Paramount, CA 90723 since 09 January 2014. This property was built in 1989. 7227 Richfield St is a home located in Los Angeles County with nearby schools including Howard Tanner School, Frank J. Zamboni 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