1623 Lomita Boulevard, Harbor City, CA 90710
- $2,950,000
- 19
- BD
- 20
- BA
- 10,620
- SqFt
- Sold Price
- $2,950,000
- List Price
- $3,100,000
- Closing Date
- Sep 30, 2025
- Status
- CLOSED
- MLS#
- 25543013
- Year Built
- 1961
- Bedrooms
- 19
- Bathrooms
- 20
- Living Sq. Ft
- 10,620
- Lot Size
- 11,804
- Acres
- 0.27
- Days on Market
- 87
- Property Type
- Multifamily
- Stories
- Multi Level
Property Description
***PRICE REDUCTION | VERY MOTIVATED SELLER***Exceptional Investment Opportunity***This property offers a 6.31% in-place cap rate and 9.66 GIM, with upside to a 9.46% cap rate and 7.35 GIM. Adding two ADUs (Buyer to Verify) increases performance to a 6.91% cap rate, 8.87 GRM, and a remarkable 6.72% pre-tax cash flow with no additional turnover. Highlights: - 20.14% 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!
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Additional Information
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Attached Structure
- Detached
- Number Of Units Total
- 14
Listing courtesy of Listing Agent: Kelly Morgan (Kelly@KellyMorganCommercial.com) from Listing Office: Houze Real Estate Management.
Listing sold by Kelly Morgan from Houze Real Estate Management
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.