Roddy de la Garza
Epique Realty
(323) 615-1579
120 Total Sales
1 in Paramount
$505,000 Price
7227 Richfield St Paramount, CA 90723
Paramount Area
5
Beds
4
Baths
40,632
Sq Ft
1.3
Acre Lot
About This Home
As of February 2014The 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
Morgan Skenderian License #01314304 Listed on: 01/09/2014
Last Buyer's Agent
General NONMEMBER
NONMEMBER MRML
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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
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 3, 2016
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$6,110,000
Interest Rate
3.64%
Mortgage Type
Commercial
Purchase Details
Listed on
Jan 9, 2014
Closed on
Jan 28, 2014
Sold by
Bought by
Seller's Agent
Doug Rodermund
Morgan Skenderian
Buyer's Agent
General NONMEMBER
NONMEMBER MRML
List Price
$7,550,000
Sold Price
$7,550,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,270,000
Interest Rate
4.34%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Dec 27, 2006
Sold by
Bought by
Purchase Details
Closed on
Mar 27, 2001
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,236,000
Interest Rate
7.19%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 13, 1995
Sold by
Bought by
Purchase Details
Closed on
Aug 25, 1995
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Paramount, CA
-
Roddy de la Garza
-
Gonzalo Gomez
Gonzalo Gomez
EXCELLENCE RE REAL ESTATE
(562) 414-5730
39 Total Sales
1 in Paramount
$630,000 Price
-
Alan Cirson
Alan Cirson
The Cirson Team
(949) 569-5527
65 Total Sales
1 in Paramount
$566,000 Price
-
Lynsey Russell
Lynsey Russell
Keller Williams Pacific Estate
(424) 349-4623
122 Total Sales
3 in Paramount
$475K - $550K Price Range
-
Maria Barragan
Maria Barragan
Realty ONE Group United
(424) 336-8371
54 Total Sales
1 in Paramount
$1,200,000 Price
-
Paul Gusiff
Paul Gusiff
Westworld Realty Inc.
(669) 202-9633
104 Total Sales
1 in Paramount
$540,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $9,400,000 | Chicago Title Company | ||
| $7,550,000 | Orange Coast Title | ||
| -- | Ticor Title Co Glendale | ||
| $2,795,000 | First American Title Co | ||
| -- | Orange Coast Title | ||
| $1,600,000 | First American Title Ins Co |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $9,100,000 | ||
| Closed | $8,290,000 | ||
| Previous Owner | $6,110,000 | ||
| Previous Owner | $5,270,000 | ||
| Previous Owner | $2,236,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 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
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $146,638 | $10,909,504 | $2,611,317 | $8,298,187 |
| 2024 | $140,777 | $10,695,593 | $2,560,115 | $8,135,478 |
| 2023 | $138,196 | $10,485,876 | $2,509,917 | $7,975,959 |
| 2022 | $134,580 | $10,280,271 | $2,460,703 | $7,819,568 |
| 2021 | $131,430 | $10,078,698 | $2,412,454 | $7,666,244 |
| 2019 | $134,959 | $9,809,277 | $2,340,900 | $7,468,377 |
| 2018 | $126,102 | $9,617,517 | $2,295,000 | $7,322,517 |
| 2016 | $96,832 | $7,818,285 | $2,345,485 | $5,472,800 |
| 2015 | $91,258 | $7,700,848 | $2,310,254 | $5,390,594 |
| 2014 | $47,237 | $3,435,659 | $614,605 | $2,821,054 |
Source: Public Records
Agents Affiliated with this Home
-
Doug Rodermund
Seller's Agent in 2014
Doug Rodermund
Morgan Skenderian
(949) 295-8560
36 Total Sales
-
G
Buyer's Agent in 2014
General NONMEMBER
NONMEMBER MRML
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW14005941
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.
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
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