Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2171 240th St Lomita, CA 90717-1101

    • Apartment buildings
    • 10,904 SF
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Oct 18, 2024
    $1,500,000
    Value Estimations
    $1,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8411310
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Silver Springs Apartment / Lodging

    Property Details for 2171 240th St

    Year built
    1962
    Construction
    WOOD
    Lot size
    0.33 lot acres
    Property size
    10,904 SF
    Zone code
    LOCG*
    Property type
    Apartment buildings
    APN
    7374-007-013
    APU
    7374007013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,500,000
      ML approach
      $1,500,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lomita
    County
    Los Angeles
    State
    California
    Longitude
    -118.32
    Latitude
    33.8072
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $30,251
    $809,356
    $1,320,917
    $2,130,273
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,790,000
      16,350 SF

      25904 Viana Ave

      APARTMENT HOUSE (5+ UNITS) • 16,350 SF
      25904 Viana Ave, Lomita, CA 90717-2849
      View Details
    • Value Estimation
      $570,000
      2,925 SF

      25511 Western Ave

      APARTMENT HOUSE (5+ UNITS) • 2,925 SF
      25511 Western Ave, Lomita, CA 90717-2734
      View Details
    • Value Estimation
      $1,130,000
      6,112 SF

      25208 Cypress St

      APARTMENT HOUSE (5+ UNITS) • 6,112 SF
      25208 Cypress St, Lomita, CA 90717-2033
      View Details
    • Value Estimation
      $1,040,000
      6,767 SF

      25212 Narbonne Ave

      APARTMENT HOUSE (5+ UNITS) • 6,767 SF
      25212 Narbonne Ave, Lomita, CA 90717-2128
      View Details
    • Value Estimation
      $6,235,000
      58,408 SF

      25625 Narbonne Ave

      APARTMENT HOUSE (5+ UNITS) • 58,408 SF
      25625 Narbonne Ave, Lomita, CA 90717-2522
      View Details
    • Value Estimation
      $2,730,000
      15,896 SF

      25916 Narbonne Ave

      APARTMENT HOUSE (5+ UNITS) • 15,896 SF
      25916 Narbonne Ave, Lomita, CA 90717-3065
      View Details

    Similar Nearby for Sale

    • $1,349,000

      Lomita Income Property with Upside

      Extensively renovated duplex with rental upside in desirable Lomita.
      25353 Oak St, Lomita, CA 90717
      View Details
    • $750,000
      1,384 SF

      Lomita Duplex in Disrepair

      Duplex in disrepair, value in the land, probate sale.
      2315 243Rd St, Lomita, CA 90717
      View Details
    • $995,000
      1,100 SF

      Lomita Duplex with Income Potential

      Duplex in Lomita Pines featuring two freestanding homes on an oversized lot.
      1852 260Th St, Lomita, CA 90717
      View Details
    • $70,000
      444 SF

      Affordable Mobile Home in Lomita

      Charming, move-in ready mobile home in a prime South Bay location.
      2350 250Th St, Lomita, CA 90717
      View Details
    • Contact for pricing
      550 SF

      Lomita Office Space For Sale

      Prime Lomita location, 550 sq ft office.
      2018 102, Lomita, CA 90717
      View Details
    • $875,000

      Lomita Auto Shop For Sale

      Auto shop with repair zoning, ready for new owner.
      25807 Walnut St, Lomita, CA 90717
      View Details

    Similar Nearby for Lease

    • $1.60 SF/Yr
      1,568 SF

      Lomita Flex Space Available

      Multi-tenant building with ground level loading and flexible zoning.
      1861 Lomita Blvd, Lomita, CA 90717
      View Details
    • $15,500 /Mo

      Prime Corner Lot on PCH

      Rare commercial land on Pacific Coast Highway with development potential.
      2002 Pacific Coast Hwy, Lomita, CA 90717
      View Details
    • $10 SF/Yr
      924 SF

      Lomita Drive-Thru Development Opportunity

      Prime CA Route 1 corner lot, 0.4 acres, build-to-suit potential.
      2002 Pacific Coast Hwy, Lomita, CA 90717
      View Details
    • $15,000 /Mo
      2,600 SF

      Lomita Commercial Space For Lease

      Commercial space for lease in a trusted neighborhood location.
      2258 Lomita Blvd, Lomita, CA 90717
      View Details
    • Contact for pricing

      Lomita Bank Building For Rent

      One-story bank building with drive-thru and major street frontage.
      2270 Lomita Blvd, Lomita, CA 90717
      View Details
    • $30 SF/Yr
      17,490 SF

      Lomita Executive Office Space

      Prime Lomita location, multiple suites available.
      2244 Pacific Coast Hwy, Lomita, CA 90717
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2171 240th St
    Lomita, CA 90717-1101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.