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$ 3,100,000
Est. payment | /mo
8,781 Sqft Lot
$ 3,100,000
Est. payment | /mo
8,781 Sqft Lot
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26175840
HOA Y/N No
Year Built 1962
Lot Size 8,781 Sqft
Property Sub-Type Apartment
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 $205,494 of in-place NOI, a 6.63% current cap rate going to 6.98% pro forma on turnover to market rents. Nearby 2025–2026 sales in the Bellflower/Paramount submarket traded at 4.64%–5.75% caps and $314,063 per unit, making this an outsized in-place yield for renovated, family-sized product. Paramount is outside the City of Los Angeles and not subject to Measure ULA. Nine on-site parking spaces. Convenient to the 105 and 710 freeways, Downtown LA, LAX, and Long Beach.
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 $205,494 of in-place NOI, a 6.63% current cap rate going to 6.98% pro forma on turnover to market rents. Nearby 2025–2026 sales in the Bellflower/Paramount submarket traded at 4.64%–5.75% caps and $314,063 per unit, making this an outsized in-place yield for renovated, family-sized product. Paramount is outside the City of Los Angeles and not subject to Measure ULA. Nine on-site parking spaces. Convenient to the 105 and 710 freeways, Downtown LA, LAX, and Long Beach.
Location
State CA
County Los Angeles
Area Rk - Paramount South Of Somerset
Interior
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Urban
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 Yes
Others
Senior Community No
Tax ID 6242030021
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Listed by John Chelius Property Works RE, Inc. 310-722-0360, DRE #01936287
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