The subject property is a single family residence located on a large (50’ by 153’) 7,598 square foot lot that has been rezoned to medium density multi-residential. The adjacent lot has an auto repair business on it and the properties can be purchased together to allow new development of 6 apartment/townhome or condo units. The tax assessor records indicate that the improvements are 594 square feet with a 1 bedroom 1 bath SFR. The City of Paramount confirmed that an addition was permitted in 1993 for 390 square feet, and a recent taping of the house came in at 1,124 square feet with 3 bedrooms and 1.75 bathrooms. BUYER TO VERIFY ALL SQUARE FOOTAGE, THE NUMBER OF LEGALLY PERMITTED BEDROOMS & ZONING USES. The house has been rented to a tenant under the Section 8 program since 2007 and the current rent is $1,450 in total. The property could be purchased for an investment as well as owner-user. The property is located on a residential street just one parcel off of Paramount Blvd but adjacent to commercial properties. Just a few blocks away on Paramount is Roosevelt Elementary and Paramount Elementary School and a very large park with a public pool . The property is one city block south of the 105 freeway, providing convenient access.