7253 Richfield St
- Well Maintained Property
- Highly Sought After Unit Type
- Strong Income With Upside Potential
- Central Location
- Spacious Units
Property Description
7253 Richfield is a 10-unit apartment building located in Paramount, California. Constructed in 1959, the subject property contains 9,140 rentable square feet which is located on a spacious 33,973 square foot lot. The building consists of eight (8) 2 Bed + 1 Bath units, one (1) 3 Bed + 2 Bath unit, and one (1) 4 Bed + 2 Bath unit. The property offers economically friendly units that are perfect for the working-class individuals that value being centrally located to all business sectors of surrounding cities, and the Greater Los Angeles Area. Paramount has provided a historically strong tenant occupancy, which makes filling vacancies effortless. The property features a total of eight (8) 2 Bed + 1 Bath units, one (1) 3 Bed + 2 Bath unit, and one (1) 4 Bed + 2 Bath unit. These large units appeal to a broad range of tenants, including small families, couples, work from home individuals, and those with roommates. Two bedroom units are also less susceptible to fluctuations in the housing market because they cater to the basic housing needs for individuals. Especially since the pandemic, 2 bedroom units are highly sought after which allows the landlord to ask for a premium in rent, lower their vacancy cost, and minimize their management issues. The property is well-maintained and managed, with a focus on providing a comfortable and welcoming environment for residents. The location of the property in the vibrant city of Paramount ensures that residents have easy access to a wide range of amenities, including dining, shopping, entertainment, and recreational opportunities. The combination of a balanced unit mix, additional parking, strong in-place rents, and a central location make 7243 Richfield Ave an attractive investment opportunity for those looking to invest in a multi-family property in Paramount, California.
Key Property Information
| Listing Status: | Available |
|---|---|
| Price: | $3,300,000 |
| No. of Units: | 10 |
| Cap Rate: | 5.05% |
| GRM /GIM: | 12 |
| Year Built: | 1959 |
| Building Size: | 9,140 Sq ft |
| Lot Size: | 33,973.00 Sq ft |
| No. of Stories: | 1 |
| Opportunity Zone: | No |
| Price per unit: | $330,000 |
| Property Website | Click Here |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Spencer Allen | 562.508.9924 | [email protected] |
Similar Properties in the Area
3791 Marlborough Avenue
San Diego , California
Crestline Drive Apartments
Lemon Grove , CaliforniaApartment News
View All-
Kidder Mathews Elevates Luchs to Managing Director
California | December 8, 2023
-
Marcus & Millichap Closes Multifamily Sale in Hillcrest
California | December 8, 2023
-
San Francisco Acquires Luxury Apartments as Supportive Housing
California | December 8, 2023
Investing Classroom
View All
Brokers
View All-
Carson Mitchell
Clements and Bush Trading | Texas
-
"T." Furlow
-
G B
-
Eddie Jones
Marketing Alliances Group
Lenders
View All-
Felix Gutnikov
California
-
Gary Bechtel
North Carolina
-
Brad Ross
California
-
Ken Gaitan
Idaho
