1651 251st St - Apartments FOR SALE


Harbor City, CA 90710
$895,000 USD
424-405-3826
1651 251st St, Harbor City, CA for Sale
$895,000 USD
Apartments - FOR SALE
1/4
null | 3.2% Cap Rate

1651 251st St
Harbor City, CA 90710


HIGHLIGHTS

  • Excellent opportunity to acquire two homes on one lot; one is a three-bed/two-bath and the other is a two-bed/one-bath
  • Competitively priced at $476 per sqft, well-below comparable sales and Harbor City’s average single-family price per sqft
  • Amenities include in-unit laundry hookups, garages, and patios
  • 27 Percent rental upside
  • Located in the desirable inland South Bay rental market on the border of Harbor City and Lomita

OVERVIEW

Marcus & Millichap is pleased to present to market 1651 251st Street in Harbor City, California. This offering presents an excellent opportunity to acquire a three-bed/two-bath home and a two-bed/one-bath home on one lot. The homes feature laundry hookups, patios, and separate gas and electric meters. Additionally, a detached building in the rear offers three garage parking spaces. This property’s detached, single-story floor plans and laundry and garage amenities are sought-after in this rental market. 1651 251st Street is located on the border of Harbor City and Lomita in the desirable inland South Bay. Situated near the intersection of Lomita Boulevard and Western Avenue, the property is proximate to schools, retail, and the 110 Freeway. The property is occupied by long-term tenants, and current rents are 27 percent below market, offering a new investor significant upside potential.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$476 USD /SF

# OF UNITS

2

PRICE/UNIT

$447,500

CAP RATE

3.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

LAR2

APN/PARCEL ID

7410-018-023

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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