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Description Open House Details Location Schools Recent Sales
$799,888 Est. $2,945 / mo.*

1535 W 224th St Torrance , CA 90501

Courtesy of ClearThink Homes 714-794-5278

Description

Property Type: Other
Status: Active
Year Built: 1961
Days on Website: 95
PACKAGE SALE Both properties must close concurrently. 1541 W 224th St, (MLS# PW26112719) must be purchased together with 1535 W 224th St (MLS# PW26112707). Do not disturb tenants. 5-unit, two-parcel value-add opportunity in Harbor Gateway. Two adjacent lots totaling 14,402 sq ft zoned LARD2, each on its own APN. 1541 W 224th St is a 3-unit triplex (6 BR / 3 BA, 2,558 sq ft); 1535 W 224th St is a 2-unit duplex (4 BR / 2 BA, 1,596 sq ft). Both built 1961, well-maintained. RESIDENTIAL FINANCING: Each parcel is priced independently under $1,000,000 and qualifies for conventional residential financing on its own APN no commercial loan required. Lower down payment, better rates, and access to a significantly larger lender pool. ADU POTENTIAL: Combined 14,402 sq ft LARD2 zoning supports multiple additional dwelling units under CA state law. Harbor Gateway ADU rents currently range from $2,300 to $2,600/mo, with each additional unit delivering meaningful income and asset value growth. RENT UPSIDE: Current blended rent averages $1,740/mo per unit against market rents of approximately $2,300/mo. Rents governed by LA City RSO currently 3% annually for 2026 providing steady, compounding income growth as units turn. At stabilized market rents: pro forma gross income approximately $141,600/yr and pro forma NOI exceeding $99,500/yr, no ADUs required. MULTIPLE EXIT STRATEGIES: Hold as a stabilized combined portfolio. Develop ADUs to maximize NOI and asset value. Sell parcels individually once stabilized each independently financeable. Phased development across two lots. PROPERTY CONDITION: Several units have received interior upgrades, including bathroom remodels, kitchen improvements (new cabinetry and quartz countertops), subfloor plumbing, and new flooring throughout. Four of five tenants have occupied 10+ years stable cash flow from day one. Direct 110 Fwy access. Minutes to the Port of LA, South Bay employment corridor, and Downtown Los Angeles. Short distance from Harbor-UCLA Medical Center site of LA County's largest-ever healthcare capital project, a $1.7 billion replacement and expansion currently under construction.

Open House

Property Details and Features

Appliances & Equipment
"Microwave"
"Oven-Gas"
"Range"
"Self Cleaning Oven"
"Dishwasher"
"Dryer"
"Dryer Included"
"In Kitchen"
"Laundry Closet Stacked"
"Microwave"
"Refrigerator"
"Stackable W/D Hookup"
"Vented Exhaust Fan"
"Washer"
"Washer Hookup"
"Washer Included"
Bathrooms
2 total bathrooms
2 full bathrooms
Bedrooms
4 total bedrooms
"All Bedrooms Down"
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Contact an Agent

Christopher Lechner

(562) 972-0388

Location

$799,888 -
1535 W 224th St Torrance , CA 90501
County: Los Angeles

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