1656 Lomita Boulevard
$1,498,800
—
4,731
4,731
$317
Virtual Tour
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...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.
- Listed by Jennifer Avellan • DRE #01468000 • Brokerage DRE #01978349 • Keller Williams SELA
Property Details for 1656 Lomita Boulevard
Parking Spaces Total
6
Total Units6.0
Lot Size SourceAssessor
Building Area Total4731
Building Area UnitsSquare Feet
Stories Total2
ZoningLAR3
Parcel Number7410018037
LISTING UPDATED: 12/28/2024 09:15 PM
Property Details for 1656 Lomita Boulevard
Status | Active |
---|---|
MLS # | DW22136678 |
Days on Market | 90 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Commercial Sale / Multi Family |
Year Built | 1965 |
Lot Size | 0.13 AC / 5,586 SF |
County | Los Angeles County |
Virtual Tour
Building Information for 1656 Lomita Boulevard
Stories2Residences-Year Built1965Building Size-Lot Size0.13 AC / 5,586 SF
Property Information for 1656 Lomita Boulevard
Property History for 1656 Lomita Boulevard
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1656 Lomita Boulevard
Taxable ValueLand$568,914Additions$483,574Total$1,052,488
Tax Record2024$14,326 ($1,194 / month)
Home Facts
Total Finished SqFt4,731 SqFtAbove Grade Finished SqFt4,731 SqFtLot Size5,586 SqFtStyleMulti-Family Res (5+ Units)Year Built1965ZoningLAR3CountyLOS ANGELESAPN7410-018-037
Schools near 1656 Lomita Boulevard
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 7 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Harbor City Elementary School PublicK to 5 | ||
William J. Johnston Community Day School Public7 to 12 | ||
Nathaniel Narbonne Senior High School Public9 to 12 | ||
George S. Patton Continuation School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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