1656 Lomita Boulevard

Harbor City, CA 90710

$1,498,800
Price
—
Beds
4,731 Sq. Ft.
$317 / Sq. Ft.
4,731
Sq. Ft.
$317
per Sq. Ft.

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.
  1. Listed by Jennifer Avellan • DRE #01468000 • Brokerage DRE #01978349 • Keller Williams SELA

Property Details for 1656 Lomita Boulevard

Parking Spaces Total
6
Total Units
6.0
Lot Size Source
Assessor
Building Area Total
4731
Building Area Units
Square Feet
Stories Total
2
Zoning
LAR3
Parcel Number
7410018037
LISTING UPDATED: 12/28/2024 09:15 PM

Property Details for 1656 Lomita Boulevard

StatusActive
MLS #DW22136678
Days on Market90
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built1965
Lot Size0.13 AC / 5,586 SF
CountyLos 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

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $103,236
  • Net Operating Income: $66,141
  • Laundry Income: $100
  • Cap Rate: 4.41
  • Current Financing: Other
Expense Details
  • Operating Expense: $37,095
  • Electric Expense: $2,400
  • Insurance Expense: $1,676
  • Maintenance Expense: $4,129
  • Other Expense: $600
  • Trash Expense: $6,540
  • Water Sewer Expense: $3,000
  • Real Estate Tax Expense: $18,750
  • Total Expenses: $37,095
Tax / Assessment Info
  • Tax Year: 2022
  • Tax Annual Amount: $18,750
Community / Development
Community / Development
  • Investment Property: Yes
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Community, Gas Dryer Hookup, Washer Hookup
Exterior Features
  • Roof: See Remarks, Shingle
Land/Lot Info
  • Sign on Property: No
  • Lot Features: Front Yard, Rectangular Lot, Near Public Transit, Park Nearby
  • Land Use: Multi-Family
  • Lease Considered: No
  • Land Lease: No
  • Utilities: Electricity Connected, Natural Gas Connected, Water Connected
  • Water Source: Public
Parking Info
  • Uncovered Spaces: 3
  • Carport Spaces: 3
Property / Structure Info
  • Building Name: Sunset Apartments
  • Building Status: Existing
  • Asset Class: Multi-Family
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $2,700
  • Unit Type Type: 1
  • Unit Type Description: currently vacant & rehabbed
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $2,250
  • Unit Type Type: 2
  • Unit Type Description: currently vacant & rehabbed
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $1,356
  • Unit Type Type: 3
  • Unit Type Description: Market rent is $2250.00
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $976
  • Unit Type Type: 4
  • Unit Type Description: Market rent is $2250.00
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $596
  • Unit Type Type: 5
  • Unit Type Description: Market rent is $1500.00
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $625
  • Unit Type Type: 6
  • Unit Type Description: Market rent is $1500.00
Unit Information
  • Number Of Units Leased: 4
  • Number Of Buildings: 1

Property History for 1656 Lomita Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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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1656 Lomita Boulevard is a multi-family home for sale in Harbor City, CA 90710. This property was listed for sale on July 6, 2022 by Keller Williams SELA, it's currently listed at $1,498,800. It has been on the market for a total of 90 days and was last sold on February 7, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Harbor City Elementary School, William J. Johnston Community Day School and Nathaniel Narbonne Senior High School. 1656 Lomita Boulevard is a 0-bed, 0-bath, 4,731 sqft multi-family home built in 1965.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams SELA, Jennifer Avellan, DRE #01468000

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.