1656 Lomita BLVD Active Save Request In-Person Tour Request Virtual Tour
Harbor City,CA 90710
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID DW22136678
HOA Y/N No
Year Built 1965
Annual Tax Amount $18,750
Tax Year 2022
Lot Size 5,584 Sqft
Property Description
We are pleased to present the Sunset Apartments, a 6 unit apartment building in Harbor City in the South Bay submarket of Los Angeles. The unit mix consists of (1) Huge 3bd/2ba with attached direct entry 1-car garage, (3) Large 2bd/1ba, and (2) Studio/1ba units. This is an extremely rare opportunity as the building is being offered with the two largest units vacant and renovated! A new owner will be able to choose their own tenants and achieve market rent for these units starting on Day 1 and capitalize on the high rental demand in the area that has very low average vacancy and high rents. The other units offer huge rental upside as the units turn over the new owner will be able to achieve a 7.4% Market Cap Rate. This building benefits from the excellent central location within minutes between Redondo Beach, Palos Verdes, San Pedro port, and Long Beach. The 6 unit building next door (1652 Lomita Blvd) is also listed for sale (separate seller) and is a mirror copy of this building with identical unit mix. Here's your opportunity to purchase these side by side buildings in a strong rental market. Harbor City is a small suburb connecting Greater Los Angeles to the port cities of Wilmington and San Pedro. It borders affluent cities such as Rancho Palos Verdes, Rolling Hills, and Torrance. The building is located seconds to Pacific Coast Highway and is a short drive to beach cities such as Long Beach to the east, Redondo Beach and Manhattan Beach to the Northwest. High Rental Demand in Excellent South Bay submarket within minutes to Pacific Coast Highway and neighboring Rolling Hills Estates and Palos Verdes Estates. Huge Rental Income Upside - 7.4% Proforma CAP Rate and 9.94 Proforma GRM. Near abundance of employment opportunities in Long Beach, San Pedro and Wilmington Ports.
Location
State CA
County Los Angeles
Area 124 - Harbor City
Zoning LAR3
Interior
Fireplace No
Laundry Common Area,Washer Hookup,Gas Dryer Hookup
Exterior
Carport Spaces 3
Community Features Park
Utilities Available Electricity Connected,Natural Gas Connected,Water Connected
Roof Type Shingle,See Remarks
Total Parking Spaces 6
Building
Lot Description Front Yard,Near Park,Near Public Transit,Rectangular Lot
Story 2
Water Public
Others
Tax ID 7410018037
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard