15803 Passage Avenue

Paramount, CA 90723

$1,195,000
Price
9
Beds
5
Baths
3,448 Sq. Ft.
$347 / Sq. Ft.
3,448
Sq. Ft.
$347
per Sq. Ft.

Description

15803 Passage Avenue is a 4-unit multifamily investment asset located in the highly desirable rental market of Paramount. The property features (1) 3-bed/2-bath unit and (3) 2-bed/1-bath units, garage parking, and an onsite laundry facility. The city of Paramount does not have local rent control, offering significant potential for increased rents. The subject property has been owned by the same family for over 30 years and is an outstanding investment opportunity because of its great location and...15803 Passage Avenue is a 4-unit multifamily investment asset located in the highly desirable rental market of Paramount. The property features (1) 3-bed/2-bath unit and (3) 2-bed/1-bath units, garage parking, and an onsite laundry facility. The city of Paramount does not have local rent control, offering significant potential for increased rents. The subject property has been owned by the same family for over 30 years and is an outstanding investment opportunity because of its great location and rental upside. The city of Paramount is subject to AB 1482, which currently allows for annual rent increases of up to 8.9%. All offers must include a current proof of funds and a pre-approval letter.
  1. Listed by Nicholas Petrosian • DRE #01462598 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 15803 Passage Avenue

Zoning
PARM*
Parcel Number
6268016029
Total Units
4.0
Living Area
3448
Source Living Area
Assessor
Area
Paramount South of Somerset (RK)
Vacancy Rate
3%
Lot Size Area
6392

Location

Listing Courtesy of Remax Commercial and Investment Realty, Nicholas Petrosian, DRE #01462598
Add your commute
LISTING UPDATED: 06/09/2024 11:07 AM

Property Details for 15803 Passage Avenue

StatusActive Under Contract
MLS #24-395045
Days on Market18
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.15 AC / 6,392 SF
CountyLos Angeles County

Location

Listing Courtesy of Remax Commercial and Investment Realty, Nicholas Petrosian, DRE #01462598
Add your commute

Building Information for 15803 Passage Avenue

Stories2Residences-Year Built1963Building Size-Lot Size0.15 AC / 6,392 SF

Payment Calculator

$6,522 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,522

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 15803 Passage Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Multifamily
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $75,838
  • Net Operating Income: $41,202.00
  • Gross Income: $78,060
  • Cap Rate: 3.45%
  • Gross Rent Multiplier: $15.30
  • Total Annual Expense: 34636
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1467
  • Lot Size Square Feet: 6392
  • Lot Size Dimensions: 60x110
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Garage Is Attached
  • Total Parking: 4
  • Garage Spaces Total: 5
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,000.00
  • Unit Actual Rent: $2,000.00
  • Unit Projected Rent: $2,275.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,455.00
  • Unit Actual Rent: $1,455.00
  • Unit Projected Rent: $2,275.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,400.00
  • Unit Actual Rent: $1,400.00
  • Unit Projected Rent: $2,275.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,650.00
  • Unit Actual Rent: $1,650.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $164,347.00
  • Assessed Improvement Percent: 74.76
  • Assessed Land Value: $55,490.00
  • Assessed Land Percent: 25.24
  • Assessed Total Value: $219,837.00

Property History for 15803 Passage Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 15803 Passage Avenue

This home is within Paramount Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Jefferson Elementary School
PublicK to 5

Alondra Middle School
Public6 to 8

Buena Vista High School
Public9 to 12

Paramount High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Remax Commercial and Investment Realty, Nicholas Petrosian, DRE #01462598

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.