7042 Somerset Boulevard
Paramount, CA 90723
4497 sqft | 9 beds | 0.26 acres | #24468381
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.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$1,770,000
- MLS #24468381
- MLS #24468381
- Cost1770000
- Acres0.2601
- Square Feet4497
- Year Built1934
- Bedrooms9
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Roderick 'Rick' Raymundo (#CLW-C126070)
Listing Office: Marcus & Millichap (#CLW-X75151)
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