25719 Walnut Street, Lomita, CA 90717
Property
Sold August 2024
Listing Agent: John Mociak (DRE #01708711) · Listing Office: Avenue Realty Group · Contact: 310-872-0963 · Bought with: Angela Hu · Century 21 Union Realty · MLS #SB24039682 · Source: CRMLS
About this property
Major price revision, 5 unit apartment building in Lomita! Prime South Bay market where multifamily properties rarely become available. Well located just North of Pacific Coast Highway in-between Eshelman Avenue and Western Avenue. Wrap-around corner lot with highly sought after layout: (1) front detached house (950 s.f.) with (4) 1 bedroom/1 bath units in the rear (500 s.f. each). Features newer roofs and new individual water heaters for each unit. The house was taken down to the studs and updated/remodeled (2005). 1 of 4 apartment units have been rehabbed (2020). Apartment tenants receive a storage locker 5 x 7 included in their rent located in the parking area and there is an additional structure attached to the rear of the building generating additional monthly storage income. Steady day 1 cash flow + significant rental upside: 5.09% cap rate, 6.45% proforma.
Listing description from the August 2024 sale, as reported to CRMLS.
Sale history