25615 Western Avenue new Save Request In-Person Tour Request Virtual Tour
Lomita,CA 90717
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,730 sqft
Price per Sqft $219
MLS Listing ID CL24463691
HOA Y/N No
Year Built 1962
Lot Size 0.325 Acres
Acres 0.33
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.
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Heating Radiant
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Type Covered
Building
New Construction No
Others
Tax ID 7410011001