1623 Lomita Boulevard, Harbor City, CA 90710
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- MLS#: 25492355 ( )
- Street Address: 1623 Lomita Boulevard
- Viewed: 9
- Price: $3,100,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1961
- Bldg sqft: 0
- Days On Market: 63
- Additional Information
- County: LOS ANGELES
- City: Harbor City
- Zipcode: 90710
- Provided by: KW Advisors
- Contact: Kelly Kelly
- DMCA Notice
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DescriptionExceptional 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!
Property Location and Similar Properties
Features
Building Area Total
- 10620.00
Cooling
- Wall/Window Unit(s)
Country
- US
Heating
- Wall Furnace
Levels
- Multi/Split
Lot Dimensions Source
- Assessor
Netoperatingincome
- 186986.00
Parcel Number
- 7439025025
Parking Features
- Covered
- Uncovered
Postalcodeplus4
- 2089
Sourcesystemkey
- 25492355:CLAW
Totalexpenses
- 115162.00
Year Built
- 1961
Year Built Source
- Assessor
Zoning
- LAR3