1623 Lomita BLVD new Save Request In-Person Tour Request Virtual Tour
Harbor City,CA 90710
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,620 sqft
Price per Sqft $291
MLS Listing ID 25492355
Bedrooms 19
HOA Y/N No
Year Built 1961
Lot Size 0.271 Acres
Lot Dimensions Assessor
Property Description
Exceptional Investment Opportunity High Cap Rate with Upside Potential! Assumable loan of $1,950,000 fixed for 2 years @ 5.75%.This property offers a 6.03% in-place cap rate and 9.95 GIM, with upside to a 9.44% cap rate and 7.37 GIM. Adding two ADUs (Buyer to Verify) increases performance to a 6.65% cap rate, 9.11 GRM, and a remarkable 6.13% pre-tax cash flow with no additional turnover. Highlights: - 15.07% IRR potential with ADUs - Dual pane windows for efficiency The building includes 14 units: 2 bachelor units, 5 one-bedroom/one-bath units, 1 two-bedroom/one-bath unit, 4 two-bedroom/two-bath units, and 2 three-bedroom/two-bath units. Units 10 and 11 (the 3+2s) feature a unique layout with a door connecting the master bedroom to the main unit. This configuration allows the master bedrooms to be rented separately, with the city's approval, provided the connecting door remains in place. Contact us today to learn more or schedule a tour!
Location
State CA
County Los Angeles
Area 124 - Harbor City
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Covered,Uncovered
Total Parking Spaces 13
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 7439025025
Special Listing Condition Standard