1601 Lomita Boulevard

    Harbor City, CA 90710
    • $4,599,999
    • STATUS: Active
    • ON SITE: 42 days
    • ID#: 18394744
    $4,599,999
    • 0
      BEDS
    • 0.5
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 18,072
      SQFT
    • $255
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    24 units on almost a 1/2 acre of frontage along one of the South Bay's main arteries, connecting Torrance with the 110Fwy. - one a major South Bay job center and the other one of Greater LA's main Freeways. The subject property is madeup of six, 4-unit buildings. All units are ALL ELECTRIC AND HAVE THEIR OWN HOT WATER HEATERS. Two laundry rooms on-site.Almost all 2 bed units = good tenant stability. Great "Buy and Hold"...steady cash flow opportunity. HUGE, unrealizedupside, over time, through easy aesthetic improvements. Or build on this large, R3 site! Immediate upside throughissuance of the "city of LA allowable year 2018" rent increase (3%) this Fall and by restructuring the on-site manager's compensation. Huge job centers in Torrance, minutes away. As well as the Port of LA, a 10 minute drive South.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-21T00:29:42.66. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/88329324

    1601 Lomita Boulevard Harbor City, CA 90710

    • Price: $4,599,999
    • Status: Active
    • ID#: 18394744
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.5
    Acres
    18,072
    SQFT
    $255
    $/SQFT
    1963
    Built
    Neighborhood:
    124 - Harbor City
    County:
    Los Angeles
    Area:
    124 - Harbor City
    Property Description
    24 units on almost a 1/2 acre of frontage along one of the South Bay's main arteries, connecting Torrance with the 110Fwy. - one a major South Bay job center and the other one of Greater LA's main Freeways. The subject property is madeup of six, 4-unit buildings. All units are ALL ELECTRIC AND HAVE THEIR OWN HOT WATER HEATERS. Two laundry rooms on-site.Almost all 2 bed units = good tenant stability. Great "Buy and Hold"...steady cash flow opportunity. HUGE, unrealizedupside, over time, through easy aesthetic improvements. Or build on this large, R3 site! Immediate upside throughissuance of the "city of LA allowable year 2018" rent increase (3%) this Fall and by restructuring the on-site manager's compensation. Huge job centers in Torrance, minutes away. As well as the Port of LA, a 10 minute drive South.
    Exterior Features

    Lot Features Sprinklers None Lot Size Source Assessor Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Appliances None Appliances YN No Cooling None Cooling YN No Laundry Features None

    Property Features

    Electric Expense 18798.00 Gross Multiplier 12.25 Gross Operating Income 375503.00 Improvements Amount 1448915 Insurance Expense 5092.00 Land Value 849687 Laundry YN No Maintenance Expense 18463.00 Net Operating Income 232046.00 Operating Expense 6000.00 Professional Management Expense 18359.00 Special Listing Conditions Standard Total Expenses 134592.00 Zoning Lar3

    Listing provided courtesy of Brice Head of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-21T00:29:42.66. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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