$1,130,000
$1,165,000
3.0%For more information regarding the value of a property, please contact us for a free consultation.
2,954 SqFt
SOLD DATE : 08/16/2024
Key Details
Sold Price $1,130,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 2,954 sqft
Price per Sqft $382
MLS Listing ID SB24039682
Sold Date 08/16/24
HOA Y/N No
Year Built 1946
Annual Tax Amount $13,747
Tax Year 2024
Lot Size 5,331 Sqft
Acres 0.1224
Property Description
Major price revision, 5 unit apartment building in Lomita! Prime South Bay market where multifamily properties rarely become available. Well located just North of Pacific Coast Highway in-between Eshelman Avenue and Western Avenue. Wrap-around corner lot with highly sought after layout: (1) front detached house (950 s.f.) with (4) 1 bedroom/1 bath units in the rear (500 s.f. each). Features newer roofs and new individual water heaters for each unit. The house was taken down to the studs and updated/remodeled (2005). 1 of 4 apartment units have been rehabbed (2020). Apartment tenants receive a storage locker 5 x 7 included in their rent located in the parking area and there is an additional structure attached to the rear of the building generating additional monthly storage income. Steady day 1 cash flow + significant rental upside: 5.09% cap rate, 6.45% proforma.
Location
State CA
County Los Angeles
Area 121 - Lomita
Zoning LOCG*
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Garage Spaces 1.0
Carport Spaces 2
Garage Description 1.0
Pool None
Community Features Storm Drain(s), Street Lights, Suburban, Sidewalks, Urban
Total Parking Spaces 6
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level One,Two
Sewer Public Sewer
Water Public
Level or Stories One, Two
New Construction No
Others
Senior Community No
Tax ID 7375021005
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Angela Hu • Century 21 Union Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "