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.
Details
| MLS # | CV26160176 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1939 |
| Days On Site | 54 |
| Listing Provided By | Coldwell Banker Icon | Aaron Juarez |
Features
| SQ Feet | 2,400 |
|---|---|
| Story(s) | 1 |
| Units | 4 |
| Building(s) | 3 |
| Acreage | 0.21 |
Exterior
| Lot Features | Zero To One Unit Acre, Back Yard, Front Yard |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Suburban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Paramount |
| Zip Code | 90723 |
| Area | RK Paramount South of Somerset |
| Listing VS Median (in 90723) | |
Price: $1,000,000 low | high Med: $1,250,000 sqft: 2,400 low | high Med: 8,001 $ / sqft: $417 low | high Med: $156 On site: 54 low | high Med: 24 | |
Market Activity 90723
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Paramount |
| Zip Code | 90723 |
| Area | RK Paramount South of Somerset |
| Listing VS Median (in 90723) | |
Price: $1,000,000 low | high Med: $1,250,000 sqft: 2,400 low | high Med: 8,001 $ / sqft: $417 low | high Med: $156 On site: 54 low | high Med: 24 | |