NOT LISTED FOR SALE

7253 Richfield St Paramount, CA 90723

18 Beds
7 Baths
9,140 Sq Ft
0.78 Acres

Last Sold October 31, 2014

Last sale price $1,700,000 $186 Per Sq Ft

5 Days on Market

Highlights

  • 0.78 Acre Lot
  • No HOA
  • Wall Furnace

About This Home

As of October 2014

10 unit bungalow style apartment building. Each unit has it's own yard and garage with no common walls. Property consists of 8 two bedroom 1 bath and 2 four bedroom 1 bath units. All roofs were replaced in 2011. Huge 33,973 square foot lot.

Last Agent to Sell the Property

Steve Day

Day & Associates License #01200586 Listed on: 07/31/2014

Last Buyer's Agent

Hiu Chan

Hiu Chan, Broker License #01297322

Hiu Chan, Broker

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 0.78 Acre Lot
  • No Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 10 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • 9,140 Sq Ft Home

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 7 Bathrooms

Utilities

  • Wall Furnace

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 5 / A
  • Tax Tract Number 11345
  • Assessor Parcel Number 6241020066

Community Details

Overview

  • No Home Owners Association
  • 10 Buildings
  • 10 Units

Building Details

  • 10 Leased Units
  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $1,260
  • Insurance Expense $4,993
  • Maintenance Expense $9,959
  • Professional Management Expense $7,183
  • Trash Expense $3,038
  • Water Sewer Expense $4,086
  • New Taxes Expense $19,040
  • Gross Income $12,570
  • Net Operating Income $114,826

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Parking

10

Listing Details

  • Assessments: Yes
  • CapRate: 5.99
  • Professional Management Expense: 7183.00
  • Property Attached: No
  • Water Sewer Expenses: 4086.00
  • Property Type: Residential Income
  • Gardener Expense: 1260.00
  • Parcel Number: 6241020066
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 186.00

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 10.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 20.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Heating Type: Wall Furnace
  • Trash Expense: 3038.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 33973.00
  • Lot Size Acres: 0.7800

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average2 Bed Area: 860
  • Average3 Bed Area: 1130
  • Gross Income: 12570.00
  • Gross Multiplier: 10.61
  • Gross Scheduled Income: 150840.00
  • Insurance Expense: 4993.00
  • Lot Size Area: 33973.0000 Square Feet
  • Maintenance Expense: 9959.00
  • Maintenance Percent: 6.00
  • Net Operating Income: 114826.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number Of Units Total: 10
  • Operating Expense: 31489.00
  • Operating Expense Percent: 21.00
  • Rent Control: No
  • Total Actual Rent: 12570.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 19040.00
  • Tax Block: A
  • Tax Lot: 5
  • Tax Tract Number: 11345
  • Tax Year: 2013

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
10/31/2014 10/31/14 Sold $1,700,000 +6.3% $186 / Sq Ft
08/05/2014 08/05/14 Pending -- -- --
07/31/2014 07/31/14 For Sale $1,600,000 -- $175 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $27,603 $2,043,135 $1,123,725 $919,410
2024 $27,603 $2,003,075 $1,101,692 $901,383
2023 $27,116 $1,963,800 $1,080,091 $883,709
2022 $26,432 $1,925,295 $1,058,913 $866,382
2021 $25,827 $1,887,545 $1,038,150 $849,395
2020 $25,273 $1,868,192 $1,027,506 $840,686
2019 $26,269 $1,831,561 $1,007,359 $824,202
2018 $24,196 $1,795,649 $987,607 $808,042
2016 $21,676 $1,725,924 $949,258 $776,666
2015 $20,446 $1,700,000 $935,000 $765,000
2014 $13,727 $1,023,088 $431,301 $591,787
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB14162660

California Regional Multiple Listing Service (CRMLS)