CA > Paramount
Paramount, CA 90723,8356 Gardendale St
Paramount, CA 90723,8356 Gardendale St
Paramount, CA 90723,8356 Gardendale St
34
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$19,500,000
Est. payment /mo
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123 Beds
123 Baths
61,439 SqFt
New

8356 Gardendale St Paramount, CA 90723

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Derek Johnson

Derek Johnson

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Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 61,439 sqft

Price per Sqft $317

MLS Listing ID 25598003

Bedrooms 123

Year Built 1988

Lot Size 1.110 Acres

Acres 1.1058

Property Sub-Type Multi-Family

Property Description

Nestled directly on the border of vibrant Paramount and Downey, the Gardendale Park Apartments stand out as a rare gem for discerning investors. Built in 1988 and spanning 61,439 square feet on a generous 1.11 acre lot, this 76-unit community offers a perfect blend of suburban charm and urban accessibility. Priced attractively at $19,500,000 ($256,579 per unit), it's an enticing value-add opportunity in a market where multifamily assets continue to thrive, delivering a Cap Rate of 6.12% and a GRM of 9.81 with untapped potential. The success of this investment lies in efficient and proactive management. To date, approximately half of the large units have been upgraded with items such as new countertops and kitchen cabinetry and upgraded flooring, window treatments and vanities. The remaining 50% of the units present an opportunity for value creation. By completing unit turns and improving leasing execution, a new owner can potentially increase annual NOI by approximately $350,000. Upside may also be realized through strategic expense controls and the implementation of a RUBS program. Many CapEx improvements have been made, these include items such as new exterior paint, new landscaping, numerous hardscape improvements, an upgraded onsite management office and more. For a buyer with a strong management execution strategy, this property offers multiple avenues for significant income growth and long-term stability. The property boasts an attractive unit mix of 29 one-bedroom/one-bath units and 47 two-bedroom/two-bath units, all featuring spacious layouts with private balconies or patios, gas fireplaces for cozy evenings, central air conditioning, and convenient in-unit washer/dryer hookups. Kitchens shine with stainless steel appliances, sleek countertops, and new cabinetry, while bathrooms offer plenty of storage and updated finishes. Living rooms abundant natural light from large windows, dining rooms, ceiling fans and more!

Location

State CA

County Los Angeles

Area Southeast Downey, S Of Firestone, E Of Downey

Rooms

Other Rooms Pool House

Interior

Heating Forced Air

Cooling Air Conditioning

Equipment Gas Or Electric Dryer Hookup

Laundry In Unit

Exterior

Parking Features Covered Parking, Garage

Garage Spaces 76.0

Building

Story 3

Level or Stories Three Or More

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Keller Williams Realty

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Derek Johnson

Derek Johnson

Agent | License ID: 02051308

+1(310) 424-8883

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8356 Gardendale St