- 1987 Construction, First Time Ever Offered For Sale by Original Developers
- Great Paramount Location, Close Proximity to the 105, 710, and 605 Freeways
- Outstanding Unit Mix Comprised Entirely of 2 Bedroom 2 Bathroom Townhouse Style Units
- Strong In-Place Cash Flow With Value-Add Potential - Approx. 24% Rental Upside
- True Pride of Ownership Opportunity - Condo Quality Units with Extensive Renovations Completed
- Secured, Gated Parking with Direct-to-Unit Garage Access, Additional Carports and Open Spaces
- Amenity Package Includes Washer/Dryer Hookups, Private Patios or Balconies for All Units
Marcus & Millichap is 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.