$1,720,000
SOLD SEP 23, 2025

342 346 W Palm St Compton, CA 90220

3 Beds
2 Baths
5,340 Sq Ft
9,992 Sq Ft Lot

Recently Sold

$322 Per Sq Ft

2% Below List Price

35 Days on Market

About This Home

As of September 2025

The Palm Terrace Apartments offers an investor the opportunity to acquire two identical side-by-side fourplexes in the strong rental market of Compton. The property has been renovated over recent years and has an excellent unit mix of half 1 and half 2-bedroom units.

Compton is an excellent rental market for apartment owners with NO MUNICIPAL RENT CONTROL. Rental demand outpaces supply year after year resulting in historically-low vacancy rates. The property has a central location (30 minutes or less median travel time to work) and benefits from the city’s large renter profile.

Last Agent to Sell the Property

Doug Rodermund

Morgan Skenderian Brokerage Email: dsr@morganskenderian.com License #01314304 Listed on: 07/09/2025

Last Buyer's Agent

Michael Arp

Morgan Skenderian License #01488586

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1955

Lot Details

  • 9,992 Sq Ft Lot
  • Two or More Common Walls
  • Rectangular Lot
  • 6160002025

Parking

  • 4 Open Parking Spaces
  • 4 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 5,340 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Outdoor Features

  • Rain Gutters

Listing and Financial Details

  • Legal Lot and Block 1 / 5
  • Tax Tract Number 1
  • Assessor Parcel Number 6160002026
  • $2,099 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 8 Units

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 2 Separate Water Meters
  • Electric Expense $2,318
  • Fuel Expense $2,318
  • Gardener Expense $1,200
  • Insurance Expense $3,477
  • Maintenance Expense $4,000
  • Other Expense $1,000
  • Pest Control $948
  • Trash Expense $2,318
  • Water Sewer Expense $2,318
  • New Taxes Expense $30,481
  • Operating Expense $50,381
  • Gross Income $180,598
  • Net Operating Income $130,217

Property Details

Home Type

Multi-Family

Year Built

Built in 1955

Lot Details

0

Parking

4

Listing Details

  • CapRate: 7.44
  • Property Attached: Yes
  • Water Sewer Expenses: 2318.00
  • Zoning: COPRH*
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 6160002026
  • Year Built: 1955
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 322.10

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 4.00
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Pest Control Expense: 948.00
  • Sewer: Public Sewer
  • Trash Expense: 2318.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 6160002025
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 9992.00
  • Lot Size Acres: 0.2294

Multi Family

  • Electric Expense: 2318.00
  • Fuel Expense: 2318.00
  • Gross Multiplier: 9.21
  • Gross Operating Income: 180598.00
  • Gross Scheduled Income: 190104.00
  • Insurance Expense: 3477.00
  • Lot Size Area: 9992.0000 Square Feet
  • Maintenance Expense: 4000.00
  • Net Operating Income: 130217.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 8
  • Operating Expense: 50381.00
  • Other Expense: 1000.00
  • Other Expense Description: misc
  • Rent Control: Yes
  • Total Actual Rent: 15842.00
  • Total Expenses: 50381.00

Tax Info

  • New Taxes Expense: 30481.00
  • Tax Block: 5
  • Tax Census Tract: 5425.02
  • Tax Lot: 1
  • Tax Tract Number: 1
  • TaxOtherAnnualAssessmentAmount: 2099.00

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/23/2025 09/23/25 Sold $1,720,000 -1.7% $322 / Sq Ft
07/09/2025 07/09/25 For Sale $1,750,000 -- $328 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Doug Rodermund

    Seller's Agent in 2025

    Doug Rodermund

    Morgan Skenderian

    (949) 295-8560

    8 in this area

    34 Total Sales

    Doug Rodermund
    Section Image
  • Michael Arp

    Buyer's Agent in 2025

    Michael Arp

    Morgan Skenderian

    (714) 262-8992

    4 in this area

    43 Total Sales

    Michael Arp
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW25153987

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Compton 90220

342 346 W Palm St, Compton, CA

Sold

MultiFamily

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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. Properties may or may not be listed by the office/agent presenting the information

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