RealKey
‪(213) 433-7766‬

7029 Somerset, Paramount, California 90723, Paramount, 90723 - 1 bed, 1 bath

7029 Somerset, Paramount, California 90723 home-pic-0
ACTIVE$500,000
7029 Somerset, Paramount, California 90723
1Bed
1Bath
512Sqft
2,828Lot
Year Built
1938
Close
-
List price
$500K
Original List price
$535K
Price/Sqft
$977
HOA
-
Days on market
-
Sold On
-
MLS number
PW25222366
Home ConditionPoor
Features
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 12% below the list price. We found 3 Cons,5 Pros. Rank: price - $500.0K(4th), sqft - 512(7th), beds - 1(7th), baths - 1(39th).

Price adjustment Alert!! See the potential this starter home has. This home is a cozy 1-bedroom, 1-bathroom home offering 512 sq. ft. of comfortable living space. Perfectly suited as a starter home or investment property, this home combines charm, functionality, and potential. The detached garage is a standout feature, offering the exciting possibility of being converted into an Accessory Dwelling Unit (ADU). With its private back entrance from the alley, it’s ideal for creating a rental unit, guest house, or even a home office. Centrally located near shopping centers, schools, and major freeways, this home makes daily errands and commuting a breeze. Whether you’re a first-time buyer looking for affordability or an investor seeking an income-producing property, this little gem holds endless opportunity. Don’t miss your chance to make it yours!

Nearby schools

6/10
Los Cerritos School
Public,•K-5•0.3mi
5/10
Mark Keppel School
Public,•K-5•0.3mi
4/10
Howard Tanner School
Public,•K-5•0.5mi
5/10
Wesley Gaines School
Public,•K-3•0.9mi
8/10
Abraham Lincoln School
Public,•K-5•1.0mi
4/10
Harry Wirtz Elementary School
Public,•K-5•1.5mi
5/10
Theodore Roosevelt
Public,•K-5•1.6mi
6/10
Jefferson Elementary School
Public,•K-5•1.6mi
6/10
Major Lynn Mokler School
Public,•K-5•1.9mi
8/10
Ward Elementary School
Public,•K-3•2.3mi
7/10
Carpenter Elementary School
Public,•4-5•2.7mi
7/10
Clinton, William Jefferson School
Public,•PK-8•0.4mi
4/10
Frank J. Zamboni School
Public,•6-8•0.4mi
4/10
Leona Jackson School
Public,•4-8•0.8mi
5/10
Paramount Park Middle School
Public,•6-8•1.0mi
6/10
Hollydale School
Public,•K-8•1.5mi
4/10
Alondra Middle School
Public,•6-8•1.6mi
4/10
Roosevelt Middle School
Public,•6-8•2.0mi
5/10
Sussman Middle School
Public,•6-8•2.7mi
3/10
Dominguez High School
Public,•9-12•0.4mi
5/10
Paramount High School
Public,•9-12•1.5mi
/10
Buena Vista High School
Public,•9-12•3.2mi
9/10
Compton Early College High
Public,•9-12•3.9mi
7/10
Downey High School
Public,•9-12•4.0mi

Price History

Date
Event
Price
10/15/25
Price Change
$500,000-6.5%
09/21/25
Listing
$535,000
Condition Rating
Poor
Built in 1938, this property shows significant signs of age and deferred maintenance. The exterior images reveal faded paint, old windows, an unkempt yard, and a dilapidated fence, indicating a lack of recent upkeep. While interior photos are not provided, given the property's age and the visible exterior condition, it's highly probable that the kitchen, bathroom, and major systems (electrical, plumbing, HVAC) are original or very outdated and would require substantial repairs and rehabilitation to meet current standards. The listing description's emphasis on 'potential' further supports that significant work is needed.
Pros & Cons

Pros

ADU Conversion Potential: The detached garage with a private alley entrance offers significant potential for conversion into an Accessory Dwelling Unit (ADU), providing an opportunity for rental income or flexible living space.
Strategic Central Location: The property boasts a central location with convenient access to shopping centers, schools, and major freeways, simplifying daily errands and commuting.
Recent Price Reduction: A notable price adjustment from $535,000 to $500,000 enhances the property's affordability and attractiveness, signaling a motivated seller and potential value for buyers.
Ideal for Starter Home/Investment: Explicitly positioned as a suitable starter home or investment property, it appeals to first-time buyers and investors seeking an income-producing asset with growth potential.
Proximity to Quality Schools: Located near several schools, including highly-rated elementary and high schools, which is a significant advantage for families considering the area.

Cons

Limited Living Space: With only 512 sq. ft., 1 bedroom, and 1 bathroom, the property offers very compact living quarters, which may not meet the needs of all buyer profiles or growing families.
Advanced Age of Structure: Built in 1938, the home is an older property, potentially requiring significant updates to major systems (e.g., plumbing, electrical) and general modernization, incurring additional costs for a buyer.
Discrepancy with Estimated Value: The current list price of $500,000 is considerably higher than the property's estimated value of approximately $436,370, suggesting it may be overpriced according to market algorithms.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state