***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!
Property Details
Price:
$3,100,000
MLS #:
25543013
Status:
Active
Baths:
0
Address:
1623 Lomita Boulevard
Type:
Residential Income
Neighborhood:
124harborcity
City:
Harbor City
Listed Date:
May 23, 2025
State:
CA
ZIP:
90710
Lot Size:
11,804 sqft / 0.27 acres (approx)
Year Built:
1961
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Parking Features
Covered, Uncovered
Parking Spots
13.00
Stories Total
2
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Community
- Address1623 Lomita Boulevard Harbor City CA
- Area124 – Harbor City
- CityHarbor City
- CountyLos Angeles
- Zip Code90710
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1623 Lomita Boulevard
Harbor City, CA
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