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$ 3,100,000
Est. payment /mo
Active
1623 Lomita Boulevard Harbor City (los Angeles), CA 90710
10,620 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,620 sqft
Price per Sqft $291
MLS Listing ID CL25543013
HOA Y/N No
Year Built 1961
Lot Size 0.271 Acres
Acres 0.27
Property Sub-Type Other
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
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Building
New Construction No
Others
Tax ID 7439025025
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Listed by Kelly Morgan • Houze Real Estate Management