7042 Somerset Blvd
Paramount, CA 90723
Not Subject to LA Rent Control | 64% Upside · Multifamily Property For Sale · 5 Units

Marcus & Millichap is pleased to announce the sale of 7042 Somerset Boulevard, a 5-unit multifamily property located in Paramount, CA, which is not subject to Los Angeles rent control. The 11,330 square foot parcel contains four separate structures, including a two bedroom house, a bungalow unit, and a separate parking garage/storage building. Every unit contains two bedrooms, with the lone exception being a single bungalow unit with no shared walls. A new owner may be able to capitalize on the approximately 64% rent upside, as the current rents are well below those of similar buildings in the area. As the building does not appear on the LADBS seismic retrofit list (Buyer to verify), future maintenance costs are reduced for the new investor. The property benefits from high visibility along Somerset Boulevard, one of the largest streets in the city of Paramount. The 91, 105, and 710 Freeways are all within a short drive for tenants, who can also take advantage of the mass transit stops at both Orange Avenue and Garfield Avenue. One mile from the property sits a cluster of large industrial centers, which act as a strong employment base for many tenants in the area. Several schools and parks are also within walking distance, helping to attract tenants to the neighborhood.