7032 Somerset, Paramount, California 90723, Paramount, 90723 - 0 bed, 0 bath
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Paramount, California 90723
This 4-unit Multifamily Asset represents a Strong Value Opportunity with a List Price of $1,200,000—positioned well below the $1,323,790 Fair Market Value by 9%. This valuation gap offers $123,790 in Instant Equity. Featuring a diverse unit mix on a large 8,936 sq. ft. lot with a Condition Rating of 4, the property provides significant rental upside through cosmetic modernization of its outdated interiors. Located near the 9/10 rated Compton Early College High, this stable income-producer is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7032 Somerset Subject | $1,100,000* List Price | 0 | 0 | 2,400 | $458 | - |
A 7249 Marcelle Active | $949,999 List Price | 0 | 0 | 1,770 | $537 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property was built in 1939, and while the description states it's 'well-maintained' with 'minimal deferred maintenance,' the interior images reveal significantly outdated kitchens and bathrooms. Kitchens feature older wooden cabinets, tiled countertops, and basic white appliances (some units have newer stainless steel refrigerators). Bathrooms show older vanities, basic fixtures, and dated tile work. Flooring is primarily older tile or worn carpet. There are no signs of recent extensive renovations, and the overall aesthetic is functional but clearly from an older era, requiring substantial cosmetic updates to meet modern standards. This aligns with the 'Fair' criteria of being aged but maintained, with major components functional but showing signs of being outdated, and requiring minor updates or repairs.
High School: Compton Early College High (9/10).
This 4-unit quadruplex offers diversified income streams, making it an attractive asset for investors seeking multiple revenue sources.
Rents are currently below market, providing a clear and immediate path for a new owner to increase income through strategic rent adjustments and operational optimization.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2400, other record living area = 1650.
Built in 1939, the property's age suggests potential for aging infrastructure and systems, which may lead to higher long-term maintenance costs or the need for significant capital improvements.
While offering upside, the current below-market rents mean the property is not yet maximizing its income potential, requiring active management and potential tenant transitions to achieve market rates.
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.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.3 mi
Grades K-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,400 | 2,400 | 50% |
| Lot Size | 8,936 | 6,728 | 67% |
| Price | $1.10M | $800.0K | 67% |
| Price per sq ft | $458 | $458 | 50% |
| Built year | 1939 | 1939 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 127 | 241 | 33% |
May 14, 2026
$1,100,000
$1,200,000
-8% Price Drop
Initial Listing
Jan 30, 2026
$1,200,000
Initial Listing