Somerset Apartments 7124 Somerset Blvd 24 Unit Apartment Building $3,750,000 ($156,250/Unit) 5.05% Cap Rate Paramount, CA 90723

The Scinta Group at Marcus & Millichap is pleased to present 7126 Somerset Blvd, a well-maintained 24-unit apartment community located in the city of Paramount. The property features an attractive unit mix consisting of twenty-one (21) two-bedroom, one-bath units of approximately 948 square feet each, along with three (3) three-bedroom, two-bath units of roughly 1,000 square feet.
Situated in a strong pocket of Paramount, the asset sits on three adjacent parcels totaling 1.07 acres. The property benefits from generous land coverage and R-M zoning, which provides potential for additional development on the excess land. The site includes approximately 56 on-site parking spaces, offering ample convenience for residents.
The property is subject to AB 1482 rent control, giving investors predictable annual increases and a straightforward regulatory environment. Current rents are roughly 47% below market, creating significant value-add potential through natural turnover or targeted renovations.
With its sizable lot, favorable zoning, strong submarket, and quality unit mix, 7126 Somerset Blvd presents an excellent opportunity for both stable in-place income and future value-add or development upside.
This Property is a HUD property that has a covenant for a percentage of it to remain affordable. The city of paramount is also requiring a covered parking structure to be implemented on the parking lots. Please inquire for any further questions.