1623 Lomita Boulevard
Harbor City, CA 90710
10620 sqft | 19 beds | 0.27 acres | #25492355
Description
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!
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$3,100,000
- MLS #25492355
- MLS #25492355
- Cost3100000
- Acres0.271
- Square Feet10620
- Year Built1961
- Bedrooms19
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Kelly Morgan (#CLW-C121229)
Listing Office: KW Advisors (#CLW-X74717)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
