7042 Somerset Boulevard

Paramount, CA 90723

$1,770,000
Price
9
Beds
6
Baths
4,497 Sq. Ft.
$394 / Sq. Ft.
4,497
Sq. Ft.
$394
per Sq. Ft.

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...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.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01238010 • Marcus & Millichap
  2. Listed by Oscar Diaz • DRE #02022902 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 7042 Somerset Boulevard

Zoning
PARM*
Parcel Number
6240002003
Total Units
6.0
Living Area
4497
Source Living Area
Assessor
Area
Paramount South of Somerset (RK)
Vacancy Rate
0
Lot Size Area
11329
LISTING UPDATED: 12/10/2024 12:01 AM

Property Details for 7042 Somerset Boulevard

StatusActive
MLS #24-468381
Days on Market17
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1934
Lot Size0.26 AC / 11,329 SF
CountyLos Angeles County

Building Information for 7042 Somerset Boulevard

Stories2Residences-Year Built1934Building Size-Lot Size0.26 AC / 11,329 SF

Property Information for 7042 Somerset Boulevard

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 4
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $143,397
  • Net Operating Income: $92,999.00
  • Gross Income: $143,700
  • Gross Rent Multiplier: $11.98
  • Total Annual Expense: 50398
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2601
  • Lot Size Square Feet: 11329
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 8
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-02-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,255.00
  • Unit Actual Rent: $1,255.00
  • Unit Projected Rent: $1,475.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,695.00
  • Unit Actual Rent: $1,695.00
  • Unit Projected Rent: $1,795.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,256.00
  • Unit Actual Rent: $9,025.00
  • Unit Projected Rent: $9,580.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $484,591.00
  • Assessed Improvement Percent: 44.98
  • Assessed Land Value: $592,863.00
  • Assessed Land Percent: 55.02
  • Assessed Total Value: $1,077,454.00

Property History for 7042 Somerset Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7042 Somerset Boulevard

Taxable ValueLand$604,720Additions$494,282Total$1,099,002
Tax Record2024$14,959 ($1,247 / month)
Home Facts
Total Finished SqFt3,917 SqFtAbove Grade Finished SqFt3,917 SqFtLot Size11,329 SqFtStyleMulti-Family Res (5+ Units)Year Built1934ZoningPARM*CountyLOS ANGELESAPN6240-002-003

Schools near 7042 Somerset Boulevard

This home is within Paramount Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Mark Keppel School
PublicK to 5

Frank J. Zamboni School
Public6 to 8

Buena Vista High School
Public9 to 12

Paramount High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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7042 Somerset Boulevard is a multi-family home for sale in Paramount, CA 90723. This property was listed for sale on December 2, 2024 by Marcus & Millichap, it's currently listed at $1,770,000. It has been on the market for a total of 17 days and was last sold on August 27, 2019. This listing's school district is Paramount Unified School District. Nearby schools include Mark Keppel School, Frank J. Zamboni School and Buena Vista High School. 7042 Somerset Boulevard is a 9-bed, 6-bath, 4,497 sqft multi-family home built in 1934.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019; Marcus & Millichap, Oscar Diaz, DRE #02022902

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.