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Tera Rench

terarenchre@gmail.com +1(262) 370-7299

$1,349,000

Est. payment - /mo

0.41 Acres Lot

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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

4 DETACHED HOMES + MAJOR DEVELOPMENT POTENTIAL

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

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Listed by David Smith REMAX Professionals 562-824-8444, DRE #01353125

NEARBY SCHOOL & BUSINESS

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