Seller's Agent in 2014
Doug Rodermund
Morgan Skenderian
(949) 295-8560
20 Total Sales
7227 Richfield St Paramount, CA 90723
5
Beds
4
Baths
40,632
Sq Ft
1.3
Acres
About This Home
As of February 2014The subject property gives an investor the opportunity to purchase a newer, 1989 construction, property in an excellent in-fill rental location. The property offers an excellent unit mix, with 86% of the apartments being 2-bedroom units. Residents enjoy a large amount of covered parking, as well as multiple common areas. The apartments each have a balcony or patio and have been well-maintained by the current owner. New ownership will find a lack of competing newer construction product for rent, as well as very high barriers to entry, and should be able to increase the property’s
income with prudent management. A buyer is free to obtain new financing as well, allowing them to capitalize on today’s extremely low interest rates.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1989
Lot Details
- 1.3 Acre Lot
- 1 Common Wall
- Density is 2-5 Units/Acre
Home Design
- 40,632 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Bathrooms
Parking
- 87 Parking Spaces
- Subterranean Parking
- Parking Available
Listing and Financial Details
- Legal Lot and Block 4 / A
- Tax Tract Number 11345
- Assessor Parcel Number 6241020065
Community Details
Overview
- 6 Buildings
- 43 Units
Building Details
- 44 Separate Electric Meters
- 44 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $3,600
- Insurance Expense $10,158
- Maintenance Expense $44,226
- Other Expense $6,200
- Pest Control $1,650
- Professional Management Expense $24,008
- Trash Expense $20,689
- Water Sewer Expense $20,689
- New Taxes Expense $94,277
- Gross Income $52,650
- Net Operating Income $355,062
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/28/2014 02/28/14 | Sold | $7,550,000 | 0.0% | $186 / Sq Ft |
| 02/01/2014 02/01/14 | Pending | -- | -- | -- |
| 01/09/2014 01/09/14 | For Sale | $7,550,000 | -- | $186 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Doug Rodermund
-
NoEmail NoEmail
N
Buyer's Agent in 2014
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
9 in this area
5,480 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW14005941
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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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