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1623 Lomita BLVD Harbor City, CA 90710
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Key Details
Sold Price $2,950,000
Property Type Single Family Home
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 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 124 - Harbor City
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Exterior
Parking Features Covered, Uncovered
Building
Story 2
New Construction No
Others
Special Listing Condition Standard
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Bought with Kelly Morgan Houze Real Estate Management
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