Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    15359 Illinois Ave Paramount, CA 90723

    Sponsored
    For Sale
    $650,000

    Commercial Sale - Paramount, CA

    Property size:
    1,932 SF
    Days on Market:
    174
    Last Refresh:
    Jan 19 at 5:06 am

    Property Features for 15359 Illinois Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    6240017016
    Size
    1,932 SF

    Utilities

    Cooling system
    None (Cooling)

    Building Details

    Year built
    1926
    Architectural style
    Other

    We can help!

    Listing Contact
    Irma Velasquez

    Lotus Group Real Estate (562) 869-0800 [email protected]

    Listing agent Irma Velasquez (562) 869-0800 License #01495972

    Listing date Jul 30, 2025

    MLS# DW25169354 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Property in Paramount, CA

    This commercial property, located in Paramount, California, is available for sale. The property has a size of 1932 square feet. According to the public remarks, this property is a rehab and is ready to be sold.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jason's Sliding Doors Glass Repair Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Paramount
    County
    Los Angeles
    State
    California
    Longitude
    -118.1656944
    Latitude
    33.893106

    Nearby Similar for Sale

    • $1,850,000
      4,380 SF

      Paramount Mixed-Use Investment Opportunity

      Mixed-use property in downtown Paramount with retail, residential, and rental units.
      15323 Paramount Blvd, Paramount, CA 90723
      View Details
    • $649,000
      738 SF

      Paramount Duplex with Remodeled Units

      Two-unit property in Paramount, CA, with remodeled units.
      16313 Hunsaker Ave, Paramount, CA 90723
      View Details
    • $1,200,000
      2,012 SF

      Paramount Commercial Property For Sale

      Commercial property with residential and warehouse structures in Paramount, CA.
      8121 Rosecrans Ave, Paramount, CA 90723
      View Details
    • $1,999,888
      5,964 SF

      Paramount Commercial Property For Sale

      Commercial property in Paramount, CA with long-term tenant and cell tower.
      14045 Garfield Ave, Paramount, CA 90723
      View Details
    • $1,650,000
      Pending

      Paramount Multifamily Investment Opportunity

      Six-unit multifamily property in a prime Paramount location.
      7913 Howe St, Paramount, CA 90723
      View Details
    • $1,150,000
      2,487 SF

      Paramount Multifamily Property with Garages

      Four-unit multifamily property in Paramount, each with a private garage.
      8746 Chester St, Paramount, CA 90723
      View Details
    • $790,000
      1,354 SF

      Paramount Duplex with Income Potential

      Well-maintained duplex in Paramount, ideal for investors or owner-occupants.
      7229 Jackson St, Paramount, CA 90723
      View Details
    • $489,000
      905 SF

      Mediterranean Style Condo with Upgrades

      Move-in ready, tri-level condo with upgrades and attached garage.
      15311 Gundry Ave, Paramount, CA 90723
      View Details
    • $1,875,000
      5,567 SF

      Paramount Retail/Office Investment Opportunity

      Fully occupied retail/office building with upside potential in rents.
      14125 Garfield Ave, Paramount, CA 90723
      View Details
    • $3,250,000
      11,966 SF

      Paramount Industrial/Warehouse/Distribution Opportunity

      Expansive building ideal for industrial, warehouse, and distribution operations.
      7324 Madison St, Paramount, CA 90723
      View Details
    • $85,000

      Paramount Manufactured Home in 55+ Community

      Well-maintained 2-bedroom home in a senior community.
      8600 Contreras St, Paramount, CA 90723
      View Details
    • $150,000

      Established Laundromat Business For Sale

      Profitable laundromat business opportunity on high-traffic corner lot.
      15105 Lakewood Blvd, Paramount, CA 90723
      View Details

    FAQs

    What type of property is this?
    Single family property - Commercial property available for sale in Paramount, California.
    Where is this single family property located?
    The property is located at 15359 Illinois Ave Paramount, CA.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Investor opportunity awaits with this rehab property.; - Built in 1926, this property is ready to be sold.; - Bring your offers and envision the possibilities.
    (323) 273-0234
    Request Owner's contact information
    15359 Illinois Ave Paramount, CA 90723
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15359 Illinois Ave
    Paramount, CA 90723
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    15359 Illinois Ave Paramount, CA 90723
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Irma Velasquez
    Real Estate License ID: 01495972
    (323) 273-0234
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.