25615 South Western Avenue

Lomita, CA 90717

$2,800,000
Price
24
Beds
18
Baths
12,730 Sq. Ft.
$220 / Sq. Ft.
12,730
Sq. Ft.
$220
per Sq. Ft.

Description

Marcus & Millichap is pleased to present 25615 Western Ave, a 18unit apartment building located in Harbor City, a neighborhood in Los Angeles County California. Built in 1962, the property consists of (10) one-bedroom + one-bathroom units and (8) two-bedroom + one bathroom units. The building is 12,730 gross square feet and sits on a 14,167 square foot lot. The property is subject to the city of Los Angeles Rent Stabilization Ordinance (RSO).25615 Western Ave is located less than 2 miles from Rolling...Marcus & Millichap is pleased to present 25615 Western Ave, a 18unit apartment building located in Harbor City, a neighborhood in Los Angeles County California. Built in 1962, the property consists of (10) one-bedroom + one-bathroom units and (8) two-bedroom + one bathroom units. The building is 12,730 gross square feet and sits on a 14,167 square foot lot. The property is subject to the city of Los Angeles Rent Stabilization Ordinance (RSO).25615 Western Ave is located less than 2 miles from Rolling Hills Plaza, offering residents easy access to a wide range of retail, dining, and entertainment choices. The property is also just 1 mile from Ken Malloy Harbor Regional Park, one of the largest parks in all of Los Angeles County, which gives residents the opportunity to enjoy numerous outdoor activities. Harbor City provides quick access to major freeways such as the 110 and the Pacific Coast Highway(PCH), making it easy to commute to downtown Los Angeles, Long Beach, or other areas of SouthernCalifornia.25615 Western Ave represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers an initial CAP rate of 5.02% with the ability to improve to a 10.34% CAP rate once units turnover.
  1. Listed by Michael Sterman • DRE #01911703 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 25615 South Western Avenue

Zoning
LAR3
Parcel Number
7410011001
Total Units
18.0
Living Area
12730
Source Living Area
Vendor Enhanced
Area
Harbor City (124)
Vacancy Rate
0
Lot Size Area
14170
LISTING UPDATED: 11/22/2024 02:12 PM

Property Details for 25615 South Western Avenue

StatusPending
MLS #24-463691
Days on Market8
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.33 AC / 14,170 SF
CountyLos Angeles County

Building Information for 25615 South Western Avenue

Stories2Residences-Year Built1962Building Size-Lot Size0.33 AC / 14,170 SF

Property Information for 25615 South Western Avenue

Community / Development
Community / Development
  • Number Of Units: 18
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $275,503
  • Net Operating Income: $140,878.00
  • Gross Income: $275,503
  • Cap Rate: 5.02%
  • Gross Rent Multiplier: $10.16
  • Total Annual Expense: 126760
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3253
  • Lot Size Square Feet: 14170
  • Lot Size Dimensions: 150x95
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 0
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Radiant
  • Heating Type: Radiant
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-14-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,096.00
  • Unit Actual Rent: $10,960.00
  • Unit Projected Rent: $19,000.00
  • Like Units: 10
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,467.00
  • Unit Actual Rent: $11,898.00
  • Unit Projected Rent: $18,400.00
  • Like Units: 8
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $889,173.00
  • Assessed Improvement Percent: 72.9
  • Assessed Land Value: $330,561.00
  • Assessed Land Percent: 27.1
  • Assessed Total Value: $1,219,734.00

Property History for 25615 South Western Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 25615 South Western Avenue

Taxable ValueLand$337,172Additions$910,416Total$1,247,588
Tax Record2024$19,532 ($1,628 / month)
Home Facts
Total Finished SqFt12,730 SqFtAbove Grade Finished SqFt12,730 SqFtLot Size14,167 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLAR3CountyLOS ANGELESAPN7410-011-001

Schools near 25615 South Western Avenue

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
Eshelman Avenue 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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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 Marcus & Millichap, Michael Sterman, DRE #01911703

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.