1623 Lomita Boulevard, Harbor City, CA 90710 - Berkshire Hathaway HomeServices California Properties

1623 Lomita Boulevard, Harbor City, CA 90710

$3,100,000 Approx. USD 19 beds, 20 baths
10,620 sqft

Listing Agent


Kelly Morgan | Kelly@KellyMorganCommercial.com
Lic#: 01898026
Broker: Courtesy of KW Advisors

Agent Remarks

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!

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 25492355
Price: $3,100,000
Beds: 19
Baths: 20
Built in 1961
10,620 sqft
0.27 acres
Lot size: 0.2710
County: Los Angeles
Zoning: LAR3
Parking description: Covered,Uncovered
Heating/cooling: Wall/Window Unit(s)
Heating description: Wall Furnace
MLS area: 124 - Harbor City

Last Updated: 2/8/2025

 Days On Market (DOM): 52

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This listing belongs to the 124 - Harbor City MLS area

Lat/Long: 33.798096, -118.305420.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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