$3,100,000
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1623 Lomita Blvd Harbor City, CA 90710
19 Beds
20 Baths
10,620 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 10,620 sqft
Price per Sqft $277
MLS Listing ID 25543013
Bedrooms 19
Year Built 1961
Lot Size 0.271 Acres
Property Sub-Type Multi-Family
Property Description
***PRICE REDUCTION | VERY MOTIVATED SELLER***Exceptional Investment Opportunity***This property offers a 6.31% in-place cap rate and 9.66 GIM, with upside to a 9.46% cap rate and 7.35 GIM. Adding two ADUs (Buyer to Verify) increases performance to a 6.91% cap rate, 8.87 GRM, and a remarkable 6.72% pre-tax cash flow with no additional turnover. Highlights: - 20.14% 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 Harbor City
Zoning LAR3
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Wall/Window
Equipment Other
Exterior
Parking Features Covered Parking, Uncovered
Garage Spaces 13.0
Building
Story 2
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with Houze Real Estate Management
