tomo logo

$3,100,000

Beds
19
sq ft
10,620

1623 Lomita Blvd, Harbor City, CA 90710

1623 Lomita Blvd

Harbor City, CA 90710

  • 23 days on market
Exceptional Investment Opportunity High Cap Rate with Upside Potential! Assumable loan of $1,950,000 fixed for 2 years @ 5.75%.This property offers a 6.03% in-place cap rate and 9.95 GIM, with upside to a 9.44% cap rate and 7.37 GIM. Adding two ADUs (Buyer to Verify) increases performance to a 6.65% cap rate, 9.11 GRM, and a remarkable 6.13% pre-tax cash flow with no additional turnover. Highlights: - 15.07% IRR potential with ADUs - Dual pane windows for efficiency The building includes 14 units: 2 bachelor units, 5 one-bedroom/one-bath units, 1 two-bedroom/one-bath unit, 4 two-bedroom/two-bath units, and 2 three-bedroom/two-bath units. Units 10 and 11 (the 3+2s) feature a unique layout with a door connecting the master bedroom to the main unit. This configuration allows the master bedrooms to be rented separately, with the city's approval, provided the connecting door remains in place. Contact us today to learn more or schedule a tour!

Details

Property type

Est. home value

$3,335,169

Lot size

0.271 acres

Price per sq ft

$292

Year built

1961

HOA

No

Price History

01/31/2025
CLAW

CLAW #25492355

Listed
$3,100,000
08/29/2024
CLAW

CLAW #24394415

Removed
$3,100,000
08/01/2024
CLAW

CLAW #24394415

Price change
$3,100,000
-4.62%

Schools & Community

Neighborhood: 

Harbor City

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Banc Of California Na

Loan start date

March 2021

Original loan amount

$2,150,000

Est. remaining balance

Not provided

Interest rate

2.73%

Loan type

Commercial

Seller

Hyunyun Asset Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 02/23/2025 at 12:35 AM

Listing updated: 02/08/2025 at 5:25 AM

Listed by: Kelly Morgan, KW Advisors Phone #: (310) 482-2200

MLS: CLAW #25492355

CLAW logo

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