| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 16th | Poor |
| Amenities | 28th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7126 Somerset Blvd, Paramount, CA, 90723, US |
| Region / Metro | Paramount |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | 2002-05-10 |
| Transaction Price | $2,806,000 |
| Buyer | LONG BEACH AFFORDABLE HOUSING COALITION |
| Seller | NATIONAL HOUSING DEVELOPMENT CORP |
7126 Somerset Blvd Paramount Multifamily Investment
This 24-unit property in Paramount's Urban Core neighborhood shows 100% occupancy at the neighborhood level with strong rental demand fundamentals. Commercial real estate analysis from WDSuite indicates above-average NOI per unit performance in the Los Angeles metro.
This Urban Core neighborhood in Paramount demonstrates strong rental fundamentals, with 100% occupancy at the neighborhood level and 71% of housing units renter-occupied, ranking in the 97th percentile nationally for rental share. The property's 1988 construction year aligns with the neighborhood average of 1975, presenting potential value-add opportunities through strategic renovations and unit improvements.
Demographic data aggregated within a 3-mile radius shows a stable renter pool with 269,342 residents and household incomes averaging $92,356. The neighborhood ranks in the 74th percentile nationally for NOI per unit at $9,057, indicating solid income-generating potential. While amenity density remains limited with minimal retail and service establishments, the area's 2 parks per square mile rank in the 94th percentile nationally, supporting tenant appeal.
Contract rents in the neighborhood average $1,755 with 40% growth over five years, though affordability considerations emerge with rent-to-income ratios ranking in the bottom quartile nationally. Home values averaging $456,645 with 37% five-year appreciation may sustain rental demand by keeping ownership costs elevated relative to median household incomes of $66,716 in the immediate neighborhood.
Safety metrics for this Paramount neighborhood show mixed trends that warrant monitoring. Property crime rates of 1,075 per 100,000 residents rank in the 21st percentile nationally, though the area has experienced a 22% decrease in property offenses over the past year, indicating improving conditions.
Violent crime rates of 211 per 100,000 residents place the neighborhood in the 19th percentile nationally among 1,441 metro neighborhoods, with a 20% increase over the past year. These safety considerations should factor into property management strategies, tenant screening protocols, and security investment planning.
The property benefits from proximity to established corporate employers within the Los Angeles industrial corridor, supporting consistent workforce housing demand.
- Airgas — industrial gases (1.0 miles)
- Coca-Cola Downey — beverage manufacturing (3.8 miles)
- Raytheon Public Safety RTC — defense & aerospace (4.0 miles)
- Air Products & Chemicals — industrial chemicals (6.6 miles)
- Molina Healthcare — healthcare services (9.0 miles) — HQ
This 24-unit property presents a value-add opportunity in Paramount's rental-heavy market, with neighborhood-level occupancy at 100% and NOI per unit ranking in the 74th percentile nationally. The 1988 construction vintage offers renovation upside potential while maintaining structural integrity for long-term operations. Demographic projections within the 3-mile radius show household growth supporting rental demand, though income constraints and safety considerations require active management strategies.
According to CRE market data from WDSuite, the neighborhood's 71% rental share creates a deep tenant pool, while five-year rent growth of 40% demonstrates pricing power despite affordability pressures. The property's location within Los Angeles County's industrial corridor provides workforce housing opportunities near established employers, though investors should plan for capital improvements and enhanced security measures to optimize performance.
- Strong rental fundamentals with 100% neighborhood occupancy and 71% renter-occupied units
- Value-add potential through strategic renovations of 1988-vintage units
- Above-average NOI performance ranking in 74th percentile nationally
- Proximity to major employers supporting workforce housing demand
- Risk factors include safety concerns and affordability pressures requiring active management