1623 Lomita Boulevard
Harbor City, CA 90710
0.27 acres | #SB23079273
Description
Price REDUCED for a QUICK sale! Offered at $306/Sq.Ft. - below replacement cost! 11.8GRM and 5.3% Cap rate on CURRENT Income and tremendous upside - OVER 9% Cap Rate on market rents. Property is a Huge Value-add investment opportunity in a desirable South Bay community adjacent to city of Lomita, near Palos Verdes, Torrance, San Pedro. Situated on Lomita Blvd with high visibility and close to parks, shopping, dining and major employment (Harbor UCLA Medical Center and Kaiser Permanente) with easy access to freeways... Property is a well-maintained 14-unit court-yard style apartment complex with gated secure entrance operates and registered with LA Housing as a 16 units. Current owner have completed all the required work per Building and Safety Inspectors. Optimal Unit mix of (4) 2Bed/2Baths, (3) 2Bed/1Bath, (5) 1Bed/1Bath & (4) Singles. Property has an on-site laundry with potential of bringing additional $1,000/month (after canceling current mo-to-mo laundry lease). Four tuck-under parking spaces to be converted into 2 ADU units for additional income. Ample parking with access from the back alley and plenty of off-street parking.
Location
Legal
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Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Olga Wright (#SBWRIGOLG)
Listing Office: Lyon Stahl Investment Real Estate, Inc. (#SB1310620)
