UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID RS26221674
HOA Y/N No
Year Built 1942
Lot Size 0.409 Acres
Property Sub-Type Quadruplex
Property Description
Rare value-add investment opportunity featuring four detached residences plus approximately 4,600 square feet of additional land at the rear of the property. With below-market rents, month-to-month tenants and significant development potential, this property offers an investor multiple paths to increase income and long-term value.
The existing property consists of:
• 2 Bedroom / 1 Bath + Garage
• 3 Bedroom / 1 Bath
• 1 Bedroom / 1 Bath + 1-Car Garage
• 2 Bedroom / 1 Bath + Garage
All four residences are currently rented below market, with tenants on month-to-month agreements, providing potential for increased rental income over time, subject to applicable laws and tenant protections.
THE REAL OPPORTUNITY IS IN THE DEVELOPMENT POTENTIAL
According to information provided by the City, an owner may have two potential development strategies to explore.
Option 1 – Maintain the Detached Configuration
Leave the four existing residences detached and potentially develop an ADU of up to approximately 1,200 square feet on the rear portion of the property, with the potential for its own garage and private yard.
Option 2 – Explore a Larger Development Plan
According to information provided by the City, by connecting the existing residences with a relatively simple block-wall configuration and satisfying applicable City requirements, there may be an opportunity to develop up to eight additional units on the property.
This creates a unique opportunity for an investor or developer: continue operating the existing four residences while improving rents over time, add a large ADU while maintaining the detached-home configuration, or investigate a more substantial development plan that could dramatically increase the property's unit count and income potential.
Four existing detached residences. Below-market rents. Month-to-month tenants. Approximately 4,600 square feet of additional land. Potential for a 1,200-square-foot ADU or a larger development of up to eight additional units.
Buyer to independently verify all zoning, development, ADU, density, parking, utility and construction requirements with the City of Paramount and appropriate governmental agencies. No representation or guarantee is made regarding final development approval.
Location
State CA
County Los Angeles
Area Rk - Paramount South Of Somerset
Interior
Interior Features Ceiling Fan(s), All Bedrooms Down
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Concrete, Tile
Fireplaces Type None
Fireplace No
Appliance Disposal, Gas Oven
Laundry Inside
Exterior
Parking Features Assigned
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Biking, Street Lights, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N Yes
View Neighborhood
Roof Type Composition
Total Parking Spaces 22
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7102009026
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard
MORTGAGE CALCULATOR
NEARBY SCHOOL & BUSINESS
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