25615 Western Avenue

Lomita, CA 90717

$2,800,000

List Price

24

bed Beds

18

shower Baths

12,730 sqft

straighten / sqft

1962

calendar_month Built

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.

Listing Information

List Price $2,800,000
Status Active
MLS 24463691
Type Residential Income
Year Built 1962
Lot Size 14,170
Structure Size 12,730
Courtesy Of Marcus & Millichap
Listing Agent Michael Sterman DRE#01911703

Interior Features

Total Bedroom
Bedrooms 24
Total Bathroom
Bathrooms 18
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Michael Sterman, Marcus & Millichap 818-212-2784. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 14th, 2024 at 7:37 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.