$2,800,000
25615 Western AVE Lomita, CA 90717
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$2,800,000
Est. payment /mo
24 Beds
18 Baths
12,730 SqFt
UPDATED:
11/14/2024 07:37 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,730 sqft
Price per Sqft $219
MLS Listing ID 24463691
Bedrooms 24
HOA Y/N No
Year Built 1962
Lot Size 0.325 Acres
Property 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 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.
Location
State CA
County Los Angeles
Area 124 - Harbor City
Zoning LAR3
Interior
Heating Radiant
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Garage Covered
Parking Type Covered
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 7410011001
Special Listing Condition Standard
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Listed by Michael Sterman • Marcus & Millichap
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935