Updated Duplex with Private
New
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 Market6
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
(310) 541-8271
Listed By:
Gerard Bisignano · License #01116110
Source:
2buy
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 6:43AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,434
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,675
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
