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$3,100,000
Est. payment /mo
10 Beds
7 Baths
8,782 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26175840
Bedrooms 10
Lot Size 8,782 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
A rare nine-unit offering in Paramount that combines a genuinely exceptional unit mix, turnkey renovated condition, and legitimate ADU upside all outside of local rent control. Eight (8) large three-bedroom / two-bath units at approximately 905 SF, plus one (1) one-bedroom / one-bath at 440 SF. Three-bedroom apartments are almost impossible to replicate in today's construction environment, and they drive family tenancy, longer average tenure, lower turnover cost, and rent premiums that one- and two-bedroom product simply cannot command. The property sits on a 17,524 SF lot with 7,800 SF of building area and is 100% occupied at close of escrow. The building has been fully renovated roofs, windows, and all major systems, along with unit interiors and appliances. A buyer steps into stabilized, day-one cash flow without the deferred-maintenance capital plan that typically accompanies 1962-vintage product. The property is subject only to statewide AB 1482 not a local rent-control ordinance preserving annual increases up to the statutory cap and full vacancy decontrol on turnover under Costa-Hawkins. Additional upside comes from the open parking areas which present a strong candidate ADU construction under SB 1211. Offered at $3,100,000 $344,444 per unit on $205,494 of in-place NOI, a 6.63% current cap rate going to 6.98% pro forma on turnover to market rents. Nearby 20252026 sales in the Bellflower/Paramount submarket traded at 4.64%5.75% caps and $314,063 per unit, making this an outsized in-place yield for renovated, family-sized product. Paramount is outside the City of
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Call Broker
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 6242030021
Acceptable Financing Cash
Listing Terms Cash
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Listed by John Chelius, DRE#01936287 Property Works RE, Inc.
Nearby School & Business
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