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7227 Richfield ST Paramount, CA 90723
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Key Details
Sold Price $7,550,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW14005941
Sold Date 02/28/14
HOA Y/N No
Year Built 1989
Lot Size 1.303 Acres
Property Description
The 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.
Location
State CA
County Los Angeles
Area Rl - Paramount North Of Somerset
Interior
Fireplace No
Exterior
Garage Underground
Pool None
Community Features Curbs
Utilities Available Sewer Available
Parking Type Underground
Total Parking Spaces 87
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story Two
Entry Level Two
Water Public
Level or Stories Two
Others
Tax ID 6241020065
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Outofarea Outofarea • Out Of Area
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