new - 1 day on rocket

7042 Somerset Blvd, Paramount, CA, 90723

$1,770,000

Home List Price

$10,000*

Closing Credit

9 Bedrooms
6 Baths
4,497 SqFt
$394/SqFt
House

Location

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7042 Somerset Blvd, Paramount$1,770,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingAssigned
Year Built1934
MLS #24468381
Lot Size0.26 Acres
StatusActive

About 7042 Somerset Blvd

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.

Property Details

Property Features

Property Information:

  • Year Built: 1934
  • Stories: 2
  • Living Area: 4,497 SqFt

Listing Office:

  • Office Name: Marcus & Millichap
  • Office Phone: (818) 212-2700
  • Listing Agent: Roderick 'Rick' Raymundo

Interior Features

Bedroom and Bathroom Information:

  • Total Bedroom Count: 9

Exterior Features

Parking Information:

  • Parking: Assigned

Lot Features

Lot Information:

  • Lot Size: 0.26 Acres

Other

Directions Information:

  • Directions: We are pleased to announce the opportunity to purchase 7042 Somerset Boulevard, a six-unit multifamily property located in Paramount, CA.

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,770,000
  • Price Per SqFt: $394/SqFt

Tax Information:

  • Annual Amount: $13,978
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Paramount, CA.

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Paramount, CA

City

Med. List Price

$549.9K

Med. Price/SqFt

$499

Avg. Days On Market

75

# of Sold Homes

5

7042 Somerset Blvd vs Paramount

1 DAY ON ROCKET

-74 Days

$1,770,000

+$1.2M More

$394/SqFt

-$105 Less

KEY TAKEAWAY

This property is $1.2M more than the Median List Price and $105/SqFt less than other homes in Paramount, CA.

Based on homes listed in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #24468381

Listing Office:

  • Office Name: Marcus & Millichap
  • Office Phone: (818) 212-2700
  • Listing Agent: Roderick 'Rick' Raymundo

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/4/2024, 3:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Sep 10, 2019Home Sold
$1,025,000

Tax History

YEARPROP. TAXASSESSMENT
2021$13,978$1,035,618
2020$6,166$1,025,000
2019$5,648$362,690
2018$5,491$355,579
2017$5,491$348,607

History based on county public records data.

Payment Calculator

$8,901

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$5,373

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-3823322
6
/10

  • Keppel Elementary School

  • 6630 Mark Keppel St

  • 0.30 miles

  • Public District Grades KG-5

school-card-donut-3823323
4
/10

  • Los Cerritos Elementary School

  • 14626 Gundry Ave

  • 0.35 miles

  • Public District Grades KG-5

school-card-donut-3823324
4
/10

  • Howard Tanner Elementary School

  • 7210 Rosecrans Ave

  • 0.55 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $43,017. The most common annual income of people living in Paramount, CA is between $35k-100k. Residents typically live in married, with kids family. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 7042 Somerset Blvd

What is the listing price of this property?

The listing price of 7042 Somerset Blvd property is $1,770,000.

What type of property is this?

The property 7042 Somerset Blvd is a house located in Paramount, California, 90723.

Is this property for sale now?

Active Listing: 7042 Somerset Blvd is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $13,978 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on September 10, 2019 for $1,025,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 7042 Somerset Blvd has 9 bedrooms and 6 bathrooms.

What is the square footage of this property?

The property 7042 Somerset Blvd is 4,497 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 7042 Somerset Blvd is 1934.

Rocket Homes›California›Los Angeles County›Paramount›90723›7042 Somerset Blvd

This home is located at 7042 Somerset Blvd in Paramount, CA and zip code 90723 in the The Southeast neighborhood. This 4,497 square foot home, which was built in 1934, sits on a 0.26 acre lot. Features: 9 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since December 03, 2024 and is currently priced at $1,770,000.

The number of listings in Paramount, CA increased by 2.8% between October 2024 and November 2024. While the average time on the market in November 2024 was 75 days, the median list price was $549,950.

From Rocket Homes Real Estate and based on county public records data.

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