This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/1
7245 Richfield Street, Paramount, CA 90723
$3,000,000
7245 Richfield Street, Paramount, CA 90723View this property at 7245 Richfield Street, Paramount, CA 90723
7245 Richfield StreetParamountCA90723
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/1
Property Description
We are pleased to present 7245 Richfield Street, a 9 unit multi-family property located in Paramount, California. Built in 1987, the subject property consists of 8,996 rentable square feet spread throughout a .41 acre lot. The building consists entirely of condo quality, 2 bedroom 2 bathroom townhome style units. Each unit has washer/dryer hookups, a direct access 2 car garage and a private balcony or patio. There is also a shared laundry room and ample covered and open parking spaces available for tenant convenience.
The property is in a great location, tenants' benefit from quick access to the 105, 710, and 605 Freeways, which makes a commute to large employment centers such as Downtown Los Angeles, Long Beach, and Orange County, much easier. The city of Paramount is promoting development, creation of business, and local events to create a tight knit- community.
Paramount is a strong rental market which has had an annual rent growth of 4.6%, mainly because of the city's central location near large employment centers. This is a tight market with zero units delivered within the last 12 months and a vacancy rate of 2.1%. This is an absolutely incredible opportunity to acquire a true pride of ownership multi- family asset in one of the most accessible locations in the city and would be a great addition to any investor's portfolio.
Full Property Details
Full Property Details for 7245 Richfield St
General
- Sold For: $3,000,000
- Status: Closed
- Type: Multi-Family
- MLS ID: PW23158243
- Added to Site: 267 day(s) ago
Rooms
Other Rooms
- Laundry: Gas & Electric Dryer Hookup
Additional Information
- Pool Description: None
Parking
- Garage Spaces: 10
Location
- Area: RL - Paramount North of Somerset
- County: Los Angeles
- Development Name: RL - Paramount North of Somerset
- Driving Directions: W on Somerset Blvd, turn right on Garfield Ave, left on Richfield St, property on Right
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 10
- # Gas Meters: 10
- # Electric Meters: 10
Structural Information
- Entry Location: Front
- Square Feet: 8,996
- Year Built: 1987
Unit Information
Unit 1
- Number of Units: 9
- Total Bathrooms: 1
- Bedrooms: 2
Lot Features
- Lot Size (Acres): 0.4078
- Lot Size Source: Assessor
- Zoning: PARM*
- Lot Description: 6-10 Units/Acre
Financial Considerations
- Price Per Sq. Ft.: $333.48
- Price Per Unit: 361111
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed by Marcus & Millichap, Kevin King and Marcus & Millichap, Ryan Gonzalez
Sold by Nonmember Mrml, General NONMEMBER
Get Pre-Approved Today
Schools
Schools serving 7245 Richfield St
School District:Paramount Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
7210 Rosecrans Ave, Paramount, CA 90723 | K-5 | 0.1 mi | |
15733 Orange Ave, Paramount, CA 90723 | 6-8 | 0.9 mi | |
Paramount High School West Campus
14708 Paramount Blvd, Paramount, CA 90723 | 9-9 | 0.7 mi | |
14429 Downey Ave, Paramount, CA 90723 | 10-12 | 1.1 mi | |
3717 Michelson St, Lakewood, CA 90712 | 10-12 | 3.3 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 7245 Richfield St
Date
Details
Price
Change
Source
11/20/2023
Sold
$3,000,000
-7.69%
MLS
8/25/2023
Listed
$3,250,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
7245 Richfield Street, Paramount, CA 90723 (MLS# PW23158243) is a Multi-Family property that was sold at $3,000,000 on November 20, 2023. Want to learn more about 7245 Richfield Street? Do you have questions about finding other Multi-Family real estate for sale in Paramount? You can browse all Paramount real estate or contact a Coldwell Banker agent to request more information.