Bryan Cruz
Realty One Group United
(562) 608-3678
43 Total Sales
1 in Paramount
$650,000 Price
7317 Richfield St Unit 5 Paramount, CA 90723
Paramount Area
10
Beds
5
Baths
4,620
Sq Ft
0.42
Acre Lot
Highlights
- 0.42 Acre Lot
- Wall Furnace
- 1-Story Property
- No HOA
About This Home
As of November 2024Incredible Investment Opportunity – 5 Detached Units on a Huge Lot! This rare investment property features 5 detached units, each with 2 bedrooms and 1 bathroom, located on an expansive 18,000 sq ft lot, offering endless potential for future development. Each unit boasts its own private yard space and indoor washer/dryer hookups, making these units highly desirable for tenants seeking privacy and convenience. Currently, all units are occupied by long-term tenants, with rents significantly below market—an opportunity for substantial rental income growth. One unit has been remodeled, achieving current market rent of $2,700 per month. Tenants are responsible for electricity and gas, with each unit separately metered for both utilities, further reducing operating costs for the owner. The lot also features ample parking for all tenants, adding to the property's appeal. Additionally, there is the possibility of adding an Accessory Dwelling Unit (ADU) for further income potential. This property is perfect for investors looking for stable cash flow with future upside through rent increases and development opportunities. Don't miss this chance to own a prime multifamily property with great potential in a high-demand rental market!
Last Agent to Sell the Property
Harvest Realtors, Inc. Brokerage Phone: 310-347-1300 License #01751924 Listed on: 09/26/2024
Last Buyer's Agent
Harvest Realtors, Inc. Brokerage Phone: 310-347-1300 License #01751924 Listed on: 09/26/2024
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1962
Lot Details
- 18,407 Sq Ft Lot
- No Common Walls
- Density is 11-15 Units/Acre
Home Design
- Entry on the 1st floor
Interior Spaces
- 4,620 Sq Ft Home
- 1-Story Property
- Laminate Flooring
Bedrooms and Bathrooms
- 10 Bedrooms
- 5 Bathrooms
Laundry
- Laundry in Kitchen
- Gas Dryer Hookup
Parking
- Parking Available
- Assigned Parking
Utilities
- Wall Furnace
- Natural Gas Connected
- Phone Available
- Cable TV Available
Additional Features
- Exterior Lighting
- Suburban Location
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 7 / A
- Tax Tract Number 11345
- Assessor Parcel Number 6241020016
- $2,240 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 5 Buildings
- 5 Units
Amenities
- Laundry Facilities
Building Details
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $3,000
- Trash Expense $2,400
- Water Sewer Expense $2,400
- Operating Expense $7,800
- Gross Income $114,264
- Net Operating Income $106,464
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
Dec 30, 2025
Sold by
Bought by
Purchase Details
Listed on
Sep 26, 2024
Closed on
Nov 8, 2024
Sold by
Bought by
Seller's Agent
George Wang
Harvest Realtors, Inc.
Buyer's Agent
George Wang
Harvest Realtors, Inc.
List Price
$1,599,000
Sold Price
$1,650,000
Premium/Discount to List
$51,000
3.19%
Views
11
Purchase Details
Closed on
Apr 26, 2016
Sold by
Bought by
Purchase Details
Closed on
Mar 9, 2016
Sold by
Bought by
Purchase Details
Closed on
Apr 23, 2015
Sold by
Bought by
Purchase Details
Closed on
Oct 6, 2008
Sold by
Bought by
Purchase Details
Closed on
Mar 31, 2008
Sold by
Bought by
Purchase Details
Closed on
Mar 14, 1994
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Paramount, CA
-
Bryan Cruz
-
Allison Van Wig
Allison Van Wig
Responds QuicklyKeller Williams Coastal Prop.
(562) 582-8861
236 Total Sales
2 in Paramount
$865,000 Price Range
-
Karla Telleria
Karla Telleria
Keller Williams Realty
(424) 393-2593
45 Total Sales
1 in Paramount
$500,000 Price
-
Joshua Glaz
Joshua Glaz
The Ave
(657) 325-8448
256 Total Sales
5 in Paramount
$429K - $825K Price Range
-
Pablo Cornejo
Pablo Cornejo
KW The Lakes
(562) 418-5197
37 Total Sales
1 in Paramount
$615,000 Price
-
Luz Nunez
Luz Nunez
First Team Real Estate
(949) 373-4727
101 Total Sales
1 in Paramount
$530,000 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 |
|---|---|---|---|
| -- | None Listed On Document | ||
| $1,650,000 | Consumers Title Company | ||
| -- | Fidelity National Title Co | ||
| $1,098,000 | Fidelity National Title Co | ||
| -- | Chicago Title Company | ||
| -- | Chicago Title Company | ||
| -- | None Available | ||
| -- | None Available | ||
| -- | -- |
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 |
|---|---|---|---|---|
| 11/18/2024 11/18/24 | Sold | $1,650,000 | +3.2% | $357 / Sq Ft |
| 09/26/2024 09/26/24 | For Sale | $1,599,000 | -- | $346 / 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 | $22,634 | $1,650,000 | $1,000,000 | $650,000 |
| 2024 | $17,677 | $1,274,319 | $827,495 | $446,824 |
| 2023 | $17,365 | $1,249,333 | $811,270 | $438,063 |
| 2022 | $16,925 | $1,224,837 | $795,363 | $429,474 |
| 2021 | $16,547 | $1,200,821 | $779,768 | $421,053 |
| 2020 | $16,195 | $1,188,509 | $771,773 | $416,736 |
| 2019 | $16,958 | $1,165,206 | $756,641 | $408,565 |
| 2018 | $15,685 | $1,142,359 | $741,805 | $400,554 |
| 2016 | $7,388 | $507,366 | $219,097 | $288,269 |
| 2015 | $7,016 | $499,745 | $215,806 | $283,939 |
| 2014 | -- | $99,957 | $27,178 | $72,779 |
Source: Public Records
Agents Affiliated with this Home
-
George Wang
Seller's Agent in 2024
George Wang
Harvest Realtors, Inc.
(310) 347-1300
59 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB24199767
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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