16840 Passage, Paramount, CA 90723
16840 Passage, Paramount, CA 90723
16840 Passage, Paramount, CA 90723
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$1,625,000
Est. payment /mo
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0.52 Acres Lot
Pending

16840 Passage Paramount, CA 90723

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Marie Goodloe

Marie Goodloe

+1(310) 251-0795

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

MLS Listing ID PW26048011

HOA Y/N No

Year Built 1962

Lot Size 0.520 Acres

Property Sub-Type Apartment

Property Description

Excellent value-add opportunity in the heart of Paramount. This rare 5-unit bungalow/cottage-style multifamily property offers a highly desirable layout consisting of one duplex and three detached units, creating a private single-family-home feel that tenants love. Properties with this type of configuration are rarely available and are highly attractive. All five units feature 2 bedroom and 1 bathroom, and each unit includes a one-car garage, a highly desirable amenity. Current rents are $2,200, $1,900, $1,900, $1,900, $1,980. Are units are now month to month. The property sits on a large approximately 0.52-acre lot and offers about 4,500+ square feet of living space, providing investors with both current income and future potential. The oversized lot may also offer potential for adding additional units (buyer to verify with the city.) Several long-term tenants provide stable occupancy, while the property presents significant upside potential through renovations and rental increases. The unique layout, garage parking, and spacious lot make this an appealing investment for buyers seeking both stability and long-term growth. Ideally located north of the California State Route 91 with convenient access to major freeways including Interstate 605, Interstate 710, and Interstate 105, providing easy connectivity to employment centers throughout Los Angeles County. Nearby shopping, dining, and entertainment can be found at Lakewood Center and Downey Landing, with convenient proximity to the job centers and amenities of Long Beach. With its rare cottage-style configuration, garage parking for every unit, stable occupancy, large lot, and strong value-add potential, this property represents an excellent opportunity for investors looking to add a well-located multifamily asset to their portfolio.

Location

State CA

County Los Angeles

Area Rk - Paramount South Of Somerset

Interior

Interior Features All Bedrooms Down, Bedroom on Main Level

Flooring Carpet

Fireplace No

Laundry None

Exterior

Parking Features Assigned, Concrete, Door-Multi, Direct Access, Door-Single, Garage, Paved

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Curbs

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View Neighborhood

Roof Type Composition

Total Parking Spaces 10

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 7107009019

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Juan Huizar Sage Real Estate Group, Inc. 562-307-0838, DRE #01417642
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Marie Goodloe

Marie Goodloe

Agent | License ID: 01160799

+1(310) 251-0795

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16840 Passage