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Just Listed – Duplex in Lomita

Just Listed – Duplex in Lomita

Johnnie Stiegler is excited to present 1736 254th St, a duplex for sale in Lomita!

Listed at $849,000 this building was built in 1928 | 1960, has a GRM of 16.65, and a cap rate of 4.11%.

Located between South Torrance and Rolling Hills, the property is less than three miles from the Port of Long Beach. Situated on a 5,125 SF lot, each unit is its own freestanding structure. Built in 1928, the front house consists of 3 bedrooms and 2 bathrooms with a total living area of 1,142 SF. The back unit was built in 1960 and consists of 2 bedrooms and 1 bathroom with a total living area of 608 SF. Each unit is individually metered for gas and electricity. There are 2 allocated parking spaces per unit, for a total of 4 on-site spaces. The front unit features a 2-car covered carport, and the back unit uncovered.


Each unit has recently been fully updated with hardwood flooring, stainless steel appliances, new cabinetry, countertops, and various other updates. The front house features a sunroom and has a beautiful gravel side yard with bountiful fruit trees, such as orange, plums, figs and more. The front house has an attached tool-shed and both units feature external storage units. The 2-bedroom unit brings in $1,550/month and the 3-Bedroom unit will be DELIVERED VACANT! This turnkey property is an excellent opportunity for an owner-user and an investor alike. Do not miss out on this opportunity!

Investment Highlights: 

● Desirable Unit Mix: (1) 3-Bed/2-Bath Front House & (1) 2-Bed/1-Bath Unit
● Two separate structures totaling 1,750 SF situated on a 5,125 SF Lot
● Located less than 10 minutes from the Port of Long Beach.
● Both units fully updated with hardwood floors, stainless steel appliances, etc.
● The 3-bedroom front house will be delivered vacant!


City Overview:

Lomita is a city in the South Bay region of Los Angeles County with a population of 20,256 bordered by Rolling Hills Estates, Torrance, and Harbor City in an area of 1.9 square miles. Lomita real estate values have gone up 7.3% over the past year and the median home value in Lomita is $658,600.
Lomita residents are served by the Los Angeles Unified School District. Elementary schools include Eshelman Avenue Elementary School, Lomita Math & Science Magnet School, and President Avenue Elementary School.

The Lomita Railroad Museum has been devoted to the steam engine period of railroading since it opened in 1966. The museum is open Thursday through Sunday and engines in the museum have appeared in numerous films. Lomita Park is over 7 acres in size and has a gymnasium, community room, softball diamond, outdoor basketball court, multi-purpose field, senior walking path, children’s play area, and two tennis courts.

 

To learn more about this property:

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