About this home

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.

Facts and features

Schools

• Theodore Roosevelt

  elementary · K-5 · 0.4 mi

  5

• Paramount Park Middle School

  middle · 6-8 · 0.7 mi

  6

• Paramount High School

  high · 9-12 · 0.8 mi

  5

• Redbai Creative Learning

  elementary · K-12 · 0.5 mi

• Paramount Unified Community Day School

  middle · 7-12 · 0.6 mi

• Paramount Adult

  elementary · 0.6 mi

Price history

• Sep 15, 2026 · Price Changed$2,995,000
• Aug 11, 2026 · Listed$3,100,000
• Mar 2, 2025 · Listing Removed—
• Mar 1, 2025 · Listing Removed—
• Feb 6, 2025 · Listed For Rent$2,795
• Jan 8, 2025 · Listed For Rent$2,795
• Oct 24, 2019 · Listing Removed—
• Oct 24, 2019 · Listing Removed—

Tax history

• 2025$16,044 tax · $1,102,551 assessed
• 2024$15,403 tax · $1,080,933 assessed
• 2023$15,129 tax · $1,038,961 assessed
• 2022$14,748 tax · $1,018,590 assessed
• 2021$14,414 tax · $998,619 assessed
• 2020$14,130 tax · $988,380 assessed
• 2019$14,751 tax · $969,000 assessed
• 2018$3,475 tax · $103,369 assessed

Where it is