Property Description

Huge Value-add investment opportunity in the most desirable South Bay community adjacent to the city of Lomita, near Palos Verdes, Torrance, and San Pedro. Situated on Lomita Blvd with high visibility and close to parks, shopping, dining, and major employment (Harbor UCLA Medical Center and Kaiser Permanente) with easy access to freeways. .. Property is a well-maintained 16-unit court-yard style apartment complex with gated, secure entrance. Optimal Unit mix of (4) 2Bed/2Baths, (3) 2Bed/1Bath, (5) 1Bed/1Bath & (4) Singles with a total rent of $21,085 per month. It has tremendous upside in income – at OVER 7% Cap Rate on market rents. The property has an on-site laundry with potential of bringing an additional $1,000/month (after canceling current mo-to-mo laundry lease). Four tuck-under parking spaces to be converted into 2 ADU units for additional income. Ample parking with access from the back alley and plenty of off-street parking. There is assumable financing at 3.25%