Listed by David Smith•DRE #01353125• REMAX Professionals
Contact: 562-824-8444
For sale
$1,349,000
Est. $9,118/mo —
8
bd
•
4 ba
•
3,572
sq ft
7307 Motz, Paramount, CA 90723
About this home
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.
South of Somerset, located between Somerset Boulevard and Alondra Boulevard, is a residential and industrial Paramount neighborhood with a grid of postwar streets and pockets of light manufacturing. The neighborhood’s character concentrates around the Alondra Blvd and Paramount Blvd corridor, where taquerias, panaderías, auto shops, and small storefronts set a steady, working-day rhythm. Single-story ranch homes and compact apartment courts sit alongside wide driveways, block walls, and warehouse edges. Paramount Park reads as the main green break in the street grid, with ballfields and community facilities shaping daily routines. The Paramount Drive-In Theatres add a classic, after-dark landmark feel. The Los Angeles River bike path nearby frames the area with open sky and long, linear views.
Provided by Walk Score and Local Logic
Offer insights
7307 Motz · $1,349,000
$1.39M and above
75% chance or better to win
Why $1.39M+ is a strong offer
DAYS ON MARKET
2 days
The average home goes pending in 68 days.
SALE-TO-LIST
97.7%
Most homes are selling 2% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
Ceiling fan
Bedrooms
6 bedrooms across the four units; all bedrooms are on the ground floor
Bathrooms
4 full bathrooms across the four units
Kitchen
Gas ovens and garbage disposals in all four units
Laundry & utility
Interior laundry
Flooring
Tile and concrete flooring
Heating & cooling
Wall heaters
Window/wall cooling
Exterior features
No common walls
View
Home design
Four-unit property
Single story
Ground-floor entry
Parking
4-car garage
18 uncovered parking spaces
Assigned parking
Construction
Composition roof
Utilities
Public sewer
District/public water
Natural gas, sewer, electricity, and water connected
One water meter and four gas and electric meters
HOA & community
Community features include biking, street lighting, and sidewalks
Financial info
All 4 units are leased
Total actual monthly rent of $4,904
Gross scheduled income of $58,848
Gross operating income of $57,083
Net operating income of $55,941
Gross spendable income of $55,941
Total expenses of $18,130, including insurance and water/sewer expenses
Electricity and solar
View estimated energy costs and solar savings for this home
The principal objective to be served by the classification R-2 and its application is to permit a limited increase in population density in those areas to which this classification applies by permitting multiple dwelling units on a lot while, at the same time, by means of the standards and requirements set forth in this chapter, maintaining a desirable family living environment by establishing minimum lot area and open space requirements proportionate to the size of the lot. A related consideration is to make it possible for the City to more efficiently and economically design and install all physical public service facilities in terms of size and capacity to adequately and permanently meet the needs resulting from a defined intensity of land use.
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Housing-Senior
Educational/school
Library
Climate risks
5/10 Flood Factor
Estimated 11-17% chance of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
5/10 Heat Factor
7 days above 90° expected this year, 22 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
6/10 Air Factor
10 unhealthy days expected this year, 10 days in 30 years
Provided by First Street
Historical weather
Paramount, CA • 90723
Average low and high temperatures (°F)
71
48
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51
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54
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55
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59
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63
83
65
86
66
84
66
79
59
72
53
70
51
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
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Nov
Dec
Sun exposure
89/ 100
Very good sunlight
Sunscore
This home ranks in the top 10% for direct sun exposure in Paramount. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.8 hrs
7.1 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 7307 Motz
$1,341,878
$7,122 under list price of $1.35M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $802K to $1.2M.