1623 Lomita Blvd - Apartments FOR SALE


Harbor City, CA 90710
$3,150,000 USD
310-836-3638
1623 Lomita Blvd, Harbor City, CA for Sale
$3,150,000 USD
Apartments - FOR SALE
1/21
null | Request Cap Rate

1623 Lomita Blvd
Harbor City, CA 90710


HIGHLIGHTS

  • Ability to Add 2 (1+1) ADUs
  • Assumable $1,950,000 loan at 5.75% 2 Year fixed through 11/2026
  • 6.17% In-Place Cap Rate & 9.83 GRM
  • Projected 9.69% Market Cap Rate & 7.10 GRM with Upside after ADUs
  • 19.45% IRR with the addition of two ADUs
  • Close to freeways, ports, shopping, and regional employment hubs

OVERVIEW

**Add 2 ADUs to a stabilized investment just minutes from the $170M West Harbor Development and future regional transit improvements.** Located at 1623 Lomita Blvd, this 14-unit multifamily investment delivers immediate cash flow and strong long-term upside. The property offers a current 6.17% cap rate and 9.83 GRM, with 27% rental upside and the potential to add two ADUs (Buyer to verify). With a unique mix of unit types—including two 3-bed units with rentable master suites—the building provides flexible income opportunities. Recent improvements include dual pane windows, a newer 100-gallon water heater, and updated interiors in several units. **An assumable loan of $1.95M at 5.75% fixed for 2 years until 11/26. Just 15 minutes from the transformative West Harbor waterfront development and in close proximity to employment centers, freeways, and public amenities, this asset is positioned for future appreciation. Tenants benefit from a 71 Walk Score, onsite amenities, and a peaceful, suburban feel in the heart of South Bay. Contact us today to request the OM or schedule a private tour. **Contact Kelly Morgan Multifamily Group for more information (310) 836-3638 or Kelly@KellyMorganCommercial.com** *Disclaimer: The attached information and figures are projections provided solely for conceptual marketing purposes and must be verified by the prospective purchasers. Neither the Seller, Alactic Systems, Kelly Morgan, their team, nor any related employees or independent contractors warrant their accuracy. Prospective purchasers should conduct their own due diligence and are advised to conduct a thorough investigation including consulting with the appropriate professionals regarding all relevant details, facts, and projections, including the ability to make any potential improvements or build an ADU on the property in question.

FOR SALE DETAILS

PRICE

$3,150,000 USD

PRICE/SF

$297 USD /SF

# OF UNITS

14

PRICE/UNIT

$225,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

14 Units in South Bay with Assumable Loan

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,801 SF

ZONING

R3

APN/PARCEL ID

7439-025-025

ASK ABOUT THIS PROPERTY

Kelly MorganKelly Morgan Multifamily GroupMore Info
310-836-3638

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Kelly MorganKelly Morgan Multifamily GroupMore Info
310-836-3638

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.