3-Unit Multifamily with Garage
For Sale
$1,000,000
7032 Somerset, Paramount, CA 90723
Well-maintained 3-unit multifamily in Paramount featuring a garage conversion leased for years and multiple unit bed/bath layouts.
Property Size2,400 SF
Days on Market79
Property Features for 7032 Somerset
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Building Details
Building Size
2,400 SF
Year Built
1939
Tenancy
Multi
Listing Agency:
Coldwell Banker Icon
Listed By:
Aaron Juarez · License #01295422
(909) 917-8388
Source:
Truthrealty
Added: Jul 22
Changed: Oct 4
Last Checked: Oct 7 at 5:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Icon
Investment Insights
Based on property information with market context.
This well-maintained multifamily property offers three residential units plus a garage conversion that has been rented for years. The front unit is a 3-bedroom, 1-bath layout, the second unit is a 2-bedroom, 1-bath layout, and the third unit is a 2-bedroom, 2-bath layout. The garage conversion is described as completed in a workmanlike manner; however, permit status is not confirmed and the buyer should conduct due diligence regarding compliance.
The property is located in Paramount, CA 90723. BikeScore is listed as 56 and WalkScore as 77, with TransitScore noted as 41.
The building is presented as having been consistently cared for over the years, with minimal deferred maintenance reported. The current rent is stated as $1,500, and it is noted that this amount is not included in the rents shown on the unit information page.
The property is located in Paramount, CA 90723. BikeScore is listed as 56 and WalkScore as 77, with TransitScore noted as 41.
The building is presented as having been consistently cared for over the years, with minimal deferred maintenance reported. The current rent is stated as $1,500, and it is noted that this amount is not included in the rents shown on the unit information page.
Key Highlights
- 3‑unit multifamily built in 1939 in Paramount.
- Unit mix includes a front 3 bed / 1 bath unit.
- Additional units include a 2 bed / 1 bath unit and a 2 bed / 2 bath unit.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,913
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,260
$838.3K
Cap Rate 7%
$598,757
$598.8K
Cap Rate 9%
$465,700
$465.7K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$64.8K $27.00/SF
− Vacancy
−$4.9K −$2.05/SF
EGI
$59.9K $24.95/SF
− OpEx
−$18.0K −$7.48/SF
NOI
$41.9K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,260
Cap Rate 7%
$598,757
Cap Rate 9%
$465,700
Alternative Uses
Best Use
Multifamily LT 5
$598.8K
$523.9K – $698.6K
NOI $41,913 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$551.7K
$482.7K – $643.6K
NOI $38,618 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,947 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,198
Businesses Nearby
Explore this area
Business Placement
Demographics for 90723, CA
53,770
Population
14,585
Households
3.7
Avg Household Size
33
Median Age
13%
College-Educated
66%
High-School Grad
4.7 sq mi
ZIP Area
11,440
Density / Sq Mi
$70,912
Median Household Income
$35,032
Median Earnings
$1,772
Median Rent
$500,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained 3-unit multifamily in Paramount featuring a garage conversion leased for years and multiple unit bed/bath layouts.
Where is this quadplex located?
The property is located at 7032 Somerset Paramount, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3‑unit multifamily built in 1939 in Paramount.; Unit mix includes a front 3 bed / 1 bath unit.; Additional units include a 2 bed / 1 bath unit and a 2 bed / 2 bath unit.
