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1623 Lomita Boulevard
124 - Harbor City Harbor City 90710

$3,100,000
Residential Income beds: 19 baths: 20.0 10,620 sq. ft. built: 1961

Main Photo: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
Photo 1: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
Photo 2: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
Photo 3: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
Photo 4: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
Photo 5: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
Photo 6: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
Status:
Active
Prop. Type:
Residential Income
MLS® Num:
25492355
Bedrooms:
19
Bathrooms:
20
Year Built:
1961
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!
Total Floor Area:
10,620 sq. ft.
Lot Area:
11,804 sq. ft.
Lot Details:
100x118
Bedrooms:
19
Full Bathrooms:
0
Three Quarter Bathrooms:
0
Half Bathrooms:
0
One Quarter Bathrooms:
0
Bathrooms:
20.0 (Full:0, Half:0)
Year built:
1961 (Age: 64)
General Listing Location:
Harbor City, 124 - Harbor City
County Or Parish:
Los Angeles
Gross Income:
$311,439
Net Operating Income:
$186,986
Cap Rate %:
6.03
Vacancy Allowance Rate:
$0
East of Western Ave, West of President Ave, South of 249th St, North of 251st St
Number of Buildings:
1
Senior Community:
No
Levels:
Multi/Split
Num Stories:
2
New Constr.:
No
# Units:
14
Heating:
Wall Furnace
Cooling:
Wall/Window Unit(s)
Total Parking Spaces:
13
Parking Features:
Covered, Uncovered
Special Listing Conditions:
Standard
Parcel Number:
7439025025
Zoning:
LAR3
  • Photo 1: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
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  • Photo 2: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
    Photo 2 of 6
  • Photo 3: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
    Photo 3 of 6
  • Photo 4: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
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  • Photo 5: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
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  • Photo 6: 1623 Lomita Boulevard in Harbor City: Residential Income for sale (124 - Harbor City)  : MLS®# 25492355
    Photo 6 of 6
Listed by KW Advisors
Data was last updated February 14, 2025 at 04:40 PM (UTC)