Updated Duplex with Private
For Sale
$898,000
2016 248th Street, Lomita, CA 90717
Two residential units offer renovated interiors, separate outdoor areas, and washer/dryer hookups for rental use.
Property Size1,800 SF
Days on Market54
Property Features for 2016 248th Street
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Duplex
Building Details
Building Size
1,800 SF
Year Built
1925
Listing Agency:
Vista Sotheby's International Realty
Listed By:
Gerard Bisignano · License #01116110
(310) 541-8271
Source:
2buy
Added: Aug 25
Changed: Oct 3
Last Checked: Oct 16 at 5:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vista Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This duplex contains two refreshed residential units with defined living and dining areas, updated kitchens and bathrooms, new flooring, and new appliances. A new roof has also been installed. Each unit includes a private yard with mature fruit trees, while washer/dryer hookups support practical tenant amenities.
The first unit includes one bedroom plus a tandem pass-through room with a closet that can function as a second bedroom or office. It is leased month-to-month. The second unit has one bedroom, and its occupant may vacate within 60 days after close of escrow. The property also presents potential for an ADU, subject to buyer verification and applicable requirements. The building is located at 2016 248th Street in Lomita, California.
The first unit includes one bedroom plus a tandem pass-through room with a closet that can function as a second bedroom or office. It is leased month-to-month. The second unit has one bedroom, and its occupant may vacate within 60 days after close of escrow. The property also presents potential for an ADU, subject to buyer verification and applicable requirements. The building is located at 2016 248th Street in Lomita, California.
Key Highlights
- Two‑unit duplex with updated kitchens, bathrooms, flooring, and appliances
- New roof serving both residential units
- Private yard provided for each unit, with mature fruit trees
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,434
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,680
$628.7K
Cap Rate 7%
$449,057
$449.1K
Cap Rate 9%
$349,267
$349.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$48.6K $27.00/SF
− Vacancy
−$3.7K −$2.05/SF
EGI
$44.9K $24.95/SF
− OpEx
−$13.5K −$7.48/SF
NOI
$31.4K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,680
Cap Rate 7%
$449,057
Cap Rate 9%
$349,267
Alternative Uses
Best Use
Multifamily LT 5
$449.1K
$392.9K – $523.9K
NOI $31,434 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$413.8K
$362.0K – $482.7K
NOI $28,963 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$963.7K
$843.3K – $1.12M
NOI $67,460 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,675
Businesses Nearby
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Business Placement
Demographics for 90717, CA
22,044
Population
8,199
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
11,022
Density / Sq Mi
$92,984
Median Household Income
$48,740
Median Earnings
$1,874
Median Rent
$793,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer renovated interiors, separate outdoor areas, and washer/dryer hookups for rental use.
Where is this duplex located?
The property is located at 2016 248th Street Lomita, CA.
What is the asking price?
The asking price for this property is $898,000.
What are key features of this property?
This property features: Two‑unit duplex with updated kitchens, bathrooms, flooring, and appliances; New roof serving both residential units; Private yard provided for each unit, with mature fruit trees
