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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.
Property Type(s):
Residential Income
| Last Updated | 8/11/2026 | Year Built | 1962 |
|---|---|---|---|
| Community | RK - Paramount South of Somerset | County | Los Angeles |
Additional Details
| AREA | RK - Paramount South of Somerset |
|---|---|
| LOT | 8782 sq ft |
| LOT DIMENSIONS | 8782 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| WATER | Public |
Location
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Listed with Property Works RE, Inc.
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