1656 Lomita Boulevard, Harbor City, CA 90710

• Listed Price : $1,498,800
• Beds : N/A
  
• Baths : N/A
  
• Property Size : N/A sqft
  
• Year Built : 1965
  

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Property Description

We are pleased to present the Sunset Apartments, a 6 unit apartment building in Harbor City in the South Bay submarket of Los Angeles. The unit mix consists of (1) Huge 3bd/2ba with attached direct entry 1-car garage, (3) Large 2bd/1ba, and (2) Studio/1ba units. This is an extremely rare opportunity as the building is being offered with the two largest units vacant and renovated! A new owner will be able to choose their own tenants and achieve market rent for these units starting on Day 1 and capitalize on the high rental demand in the area that has very low average vacancy and high rents. The other units offer huge rental upside as the units turn over the new owner will be able to achieve a 7.4% Market Cap Rate. This building benefits from the excellent central location within minutes between Redondo Beach, Palos Verdes, San Pedro port, and Long Beach. The 6 unit building next door (1652 Lomita Blvd) is also listed for sale (separate seller) and is a mirror copy of this building with identical unit mix. Here's your opportunity to purchase these side by side buildings in a strong rental market. Harbor City is a small suburb connecting Greater Los Angeles to the port cities of Wilmington and San Pedro. It borders affluent cities such as Rancho Palos Verdes, Rolling Hills, and Torrance. The building is located seconds to Pacific Coast Highway and is a short drive to beach cities such as Long Beach to the east, Redondo Beach and Manhattan Beach to the Northwest. High Rental Demand in Excellent South Bay submarket within minutes to Pacific Coast Highway and neighboring Rolling Hills Estates and Palos Verdes Estates. Huge Rental Income Upside - 7.4% Proforma CAP Rate and 9.94 Proforma GRM. Near abundance of employment opportunities in Long Beach, San Pedro and Wilmington Ports.

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Interior Features

Listing Information

Listing information courtesy of: Jennifer Avellan, Keller Williams SELA. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 29th, 2024 at 1:15 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.