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Listed by John Chelius, DRE #01936287 • Property Works RE, Inc.
$ 3,100,000
Est. payment | /mo
8,782 Sqft Lot
$ 3,100,000
Est. payment | /mo
8,782 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26175840
Year Built 1962
Lot Size 8,782 Sqft
Source California Regional MLS
Property Description
A rare nine-unit offering in Paramount that combines a genuinely exceptional unit mix, turnkey renovated condition, and legitimate ADU upside - all outside of local rent control. Eight (8) large three-bedroom / two-bath units at approximately 905 SF, plus one (1) one-bedroom / one-bath at 440 SF. Three-bedroom apartments are almost impossible to replicate in today's construction environment, and they drive family tenancy, longer average tenure, lower turnover cost, and rent premiums that one- and two-bedroom product simply cannot command. The property sits on a 17,524 SF lot with 7,800 SF of building area and is 100% occupied at close of escrow. The building has been fully renovated - roofs, windows, and all major systems, along with unit interiors and appliances. A buyer steps into stabilized, day-one cash flow without the deferred-maintenance capital plan that typically accompanies 1962-vintage product. The property is subject only to statewide AB 1482 - not a local rent-control ordinance - preserving annual increases up to the statutory cap and full vacancy decontrol on turnover under Costa-Hawkins. Additional upside comes from the open parking areas which present a strong candidate ADU construction under SB 1211. Offered at $3,100,000 - $344,444 per unit - on $20
Location
State CA
County Los Angeles
Area Rk - Paramount South Of Somerset
Interior
Laundry Other
Exterior
Pool None
Building
Story One Story
Water District - Public
Others
Tax ID 6242030021
Special Listing Condition Not Applicable
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