640 W Palmer Street
Compton, CA, 90220
$850,000
MLS: RS26037344
Beds
4
Baths
2
Sq Ft
1,660
Lot
0.26 ac
Year Built
1941
MLS #
RS26037344
Days on Market
13
Listed
Feb 24, 2026
Description
Prime Location with Exceptional Potential - This is a rare opportunity to unlock tremendous value in a highly desirable neighborhood. Built in 1941, this single-story, four-bedroom corner-lot home offers 1,660 sq. ft. of living space and sits on an expansive 11,275 sq. ft. (.26-acre) lot, providing endless possibilities for renovation, expansion, or redevelopment. The exterior is just as impressive, with a manicured, landscaped backyard enriched by a mature orange tree—an ideal setting for outdoor dining, entertaining, gardening, or quiet afternoons in your own natural oasis. The home has been well maintained for more than 54+ years and does require some upgrading, making it a true blank canvas ready for your vision. Inside, you’ll find a spacious living room featuring a cozy fireplace with gas starter, formal dining room, a large den/family room, a generously sized kitchen with a dedicated dinette area. This property blends original charm with outstanding potential. The attached three-car garage with a pass-through garage door to the back yard and can offer additional flex space—ideal for a studio, or creative use. The expansive backyard is an entertainer’s dream. The lot can possibly support an Additional Dwelling Unit (ADU), adding even more value and opportunity. Proudly owned by the same family for over 54+ years, this is the first time the property has been offered for sale—an opportunity that rarely comes along. This expansive and inviting home, offering exceptional comfort, versatility, and charm. Nestled on a charming street, the home is conveniently located near schools, shopping, parks, and local amenities, with quick access to the 110, 105, 710 and 91 freeways, making commuting and daily errands effortless. Whether you’re seeking a smart investment or the chance to create your dream home, this gem delivers location, lot size, and limitless potential. Opportunities like this do not last—schedule your private showing today and imagine what you can create.
Location
Compton, Los Angeles County, CA 90220
Open on Google Maps ↗Listed by: Frank Sergi · Amberwood Real Estate
Payment estimate
$6,204
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $85,000 · Loan: $765,000
- Principal & Interest
- $4,700
- Property tax (1.25%)
- $885
- Homeowners insurance
- $300
- Mortgage insurance
- $319
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Apr 23, 2026
- 30-year fixed
- 6.23%
- 15-year fixed
- 5.58%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Compton home with as little as 3.5% down using an FHA loan — roughly $29,750 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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