About this home

The home you love...the opportunity you were waiting for $150,000 Price Cut! Large Home, Lowest price in the area for New Construction of this size, plus a large ADU. Now is the time to make your move. Welcome to 16623 Lake Avenue, a stunning 2026 new construction in the heart of Paramount. This is not your average single-family home. It is a fully equipped, income-producing property with a versatile floor plan built for multi-generational living, rental income, or both. The main home offers ~2300 sq. ft. of living space with 5 spacious bedrooms and 4 bathrooms, including a convenient first-floor primary suite. The open-concept design connects the kitchen, dining, and living areas into one bright, inviting space. Large windows fill every room with natural light, and modern finishes are throughout- no repairs, no upgrades, and no worries. The ~817 sq. ft. ADU is a complete 2-bedroom, 1-bath residence with its own address and the same cohesive look and finish as the main home. It functions independently with a private entrance, dedicated parking, separate utilities, its own laundry, a full kitchen with quartz counters and stainless appliances, and open living and dining areas. One of this property's most unique features is the private rooftop terrace; use it to entertain guests, set up a home gym, start an organic garden, create a yoga studio, or simply enjoy the open air. Few homes in this price range offer this kind of bonus outdoor living space. It also offers additional storage inside and out! Modern convenience continues with exterior cameras included. The income potential here is real and immediate. Both the main home and the ADU include PAID solar panels. No monthly solar payment. The panels transfer with the property and start reducing energy costs from day one. The property also includes an oversized 2-car attached garage equipped with 220 volts for EV charching, plus additional parking for both units.This is a rare opportunity to own a modern, move-in-ready property with income potential, flexible living space, and long-term value. Centrally located in Los Angeles County, Paramount sits near Long Beach, Downey, Lakewood, and Bellflower at the crossroads of the 105, 710, 91, and 605 freeways. Downtown LA, and Orange County are within easy reach. Continued retail, dining, infrastructure, and residential investment, including the new Sprouts-anchored Paramount Square, reflects the city's momentum. Come visit, this home is waiting for you!

Facts and features

Schools

• Alondra Middle School

  middle · 6-8 · 0.7 mi

  6

• Major Lynn Mokler School

  elementary · K-5 · 0.8 mi

  3

• Paramount High School

  high · 9-12 · 1.5 mi

  5

• Giant Steps Children's Center

  elementary · PK-K · 0.4 mi

• Wesley Gaines School

  elementary · K-5 · 0.5 mi

  6

• Leona Jackson School

  middle · 6-8 · 0.6 mi

  6

Price history

• Oct 8, 2026 · Price Changed$1,248,888
• Oct 8, 2026 · Price Changed$1,248,888
• Oct 2, 2026 · Price Changed$1,325,000
• Oct 2, 2026 · Price Changed$1,325,000
• Jul 9, 2026 · Price Changed$1,345,000
• Jul 9, 2026 · Price Changed$1,345,000
• Jun 24, 2026 · Listed$1,395,000
• Jun 12, 2026 · Listed$1,395,000

Tax history

• 2025$1,962 tax · $260,100 assessed
• 2024$1,838 tax · $147,900 assessed

Home value

$1,332,000

• Collateral Analytics$1,332,000
• Cotality$1,281,900

Where it is