About 1623 Lomita Boulevard
***PRICE REDUCTION | VERY MOTIVATED SELLER***Exceptional Investment Opportunity***This property offers a 6.31% in-place cap rate and 9.66 GIM, with upside to a 9.46% cap rate and 7.35 GIM. Adding two ADUs (Buyer to Verify) increases performance to a 6.91% cap rate, 8.87 GRM, and a remarkable 6.72% pre-tax cash flow with no additional turnover. Highlights: - 20.14% IRR potential with ADUs - Dual pane windows for efficiency The building includes 14 units: 2 bachelor units, 5 one-bedroom/one-bath units, 1 two-bedroom/one-bath unit, 4 two-bedroom/two-bath units, and 2 three-bedroom/two-bath units. Units 10 and 11 (the 3+2s) feature a unique layout with a door connecting the master bedroom to the main unit. This configuration allows the master bedrooms to be rented separately, with the city's approval, provided the connecting door remains in place. Contact us today to learn more or schedule a tour!
Features of 1623 Lomita Boulevard
| MLS® # | 25543013 |
|---|---|
| Price | $3,100,000 |
| Sold Price | $2,950,000 |
| Bedrooms | 8 |
| Bathrooms | 7.00 |
| Square Footage | 10,620 |
| Lot Sqft | 11,804 |
| Acres | 0.27 |
| Year Built | 1961 |
| Type | Residential Income |
| Status | Closed |
| # Of Units | 14 |
Community Information
| Address | 1623 Lomita Boulevard |
|---|---|
| Area | 124 - Harbor City |
| City | Harbor City |
| County | Los Angeles |
| Zip Code | 90710 |
Amenities
| Parking Spaces | 13 |
|---|---|
| Parking | Covered, Uncovered |
| Garages | Covered, Uncovered |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall Furnace |
|---|---|
| Cooling | Wall/Window Unit(s) |
| Has Basement | No |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Multi/Split |
Additional Information
| Date Listed | May 23rd, 2025 |
|---|---|
| Date Sold | September 30th, 2025 |
| Days on Market | 92 |
| Zoning | LAR3 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Kelly Morgan |
|---|---|
| Office | Houze Real Estate Management |