25615 Western Avenue, Lomita, CA 90717
Property
Sold December 2024
Listing Agent: Michael Sterman (DRE #01911703) · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Michael Sterman · Marcus & Millichap · MLS #24463691 · Source: CRMLS
About this property
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.
Listing description from the December 2024 sale, as reported to CRMLS.
Sale history