7032 Somerset, Paramount, CA 90723
- $1,000,000
- List Price
- $1,000,000
- Status
- ACTIVE
- MLS#
- CV26160176
- Year Built
- 1939
- Lot Size
- 8,936
- Acres
- 0.21
- Lot Location
- 0-1 Unit/Acre, Back Yard, Front Yard
- Days on Market
- 5
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
Property Description
Exceptional value-add opportunity in the heart of Paramount. This well-maintained 3-unit multifamily property with a bonus garage conversion offers strong in-place income with significant upside rent potential. The building has been consistently cared for over the years and features stable, paying tenants, providing immediate cash flow while allowing an investor to strategically increase returns over time. Rents are currently below market, creating a clear path for income growth through gradual rent adjustments and operational optimization. The property shows pride of ownership with minimal deferred maintenance, making it ideal for investors seeking a low-risk asset with upside rather than a heavy rehab project. Front unit 3 bed 1 bath 2nd unit 2 bed 1 bath 3rd unit 2 bed 2 bath 4th unit 1 bed 1 bath garage conversion (not sure if permitted, buyer to do due diligence) garage is converted and done in workmanlike manner and has been rented for years. Current rent is $1500 which is not included in the rents on unit info page With solid fundamentals, long-term tenancy, and future appreciation potential, 7032 Somerset is a compelling opportunity for investors looking to enhance yield in a strong rental market.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $84,000
- Operating Expense
- 20140
Listing courtesy of Listing Agent: Aaron Juarez (teamjuarezassist@gmail.com) from Listing Office: Coldwell Banker Icon.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.