Active
1623 Lomita Boulevard
Harbor City CA, 90710
$3,100,000
$291.90 per sqft
Active
19 Beds
20 Baths
10,620 sqft
Residential
Built in 1961
Listed by Kelly Morgan with KW Advisors 310-836-3638
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!
25492355
MLSⓇ ID
January 31, 2025
Listed
January 31, 2025
Updated
Map
1623 Lomita Boulevard
Harbor City CA, 90710
Interior Features
Total Stories
2
Bedrooms
19
Total Bathrooms
20
Fireplace
No
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.27 Acres
Other Property Details
Area Name
124 - Harbor City
Garage
No
Parking
Covered, Uncovered
Parking Total
13
View
No
County
Los Angeles
Pool
No
Zoning
LAR3
Listing Contact: 310-482-2200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 1/31/2025. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 1/31/2025 at 7:38 PM UTC