7042 Somerset Blvd, Paramount, CA 90723 – 24-468381

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$1,770,000

Est. payment - /mo

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9 BD

6 BA

4,497 SqFt

Active

7042 Somerset Blvd Paramount, CA 90723

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/10/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,497 sqft

Price per Sqft $393

MLS Listing ID 24-468381

Bedrooms 9

Year Built 1934

Lot Size 0.260 Acres

Acres 0.2601

Property Description

The spacious 11,330 square foot lot features four separate buildings, including a two-bedroom house, a triplex, and two bungalows. Overall, the majority of the units contain two bedrooms while the parcel features ample on-site parking. The property is not subject to Los Angeles rent control, allowing the owner to institute higher annual rent increase via AB 1482. The current owner has completed several interior and exterior upgrades at the property, including new exterior paint, new flooring, and new modern cabinets. The one-bedroom bungalow was constructed in 2022 and features new modern fixtures throughout. A RUBS program has been instituted at the property, helping to provide an additional revenue stream for the owner. Situated near the intersection of Somerset Boulevard and Orange Avenue, the location provides high visibility to prospective tenants and also allows for convenient access to the 91, 105, and 710 Freeways. Tenants can easily commute to some of the large industrial centers in Paramount and neighboring cities, which employ many residents in the area.

Location

State CA

County Los Angeles

Area Paramount South Of Somerset

Zoning PARM*

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Parking Features Assigned

Garage Spaces 8.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

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 ©2024 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 Marcus & Millichap