2340 Lomita Blvd Lomita, CA 90717-1404

This exceptional 47,805 square foot commercial land parcel, located at 2340 Lomita Blvd in Lomita, California (zip code 90717), presents a compelling investment opportunity for developers. Priced at $7,900,000 ($167/SF), this fee-simple property boasts approximately 290 feet of frontage on Lomita Boulevard. Currently improved with an eight-unit apartment building (four units currently vacant) and a retail lawn mower shop, generating $7,170 in annual rental income from the apartments. The lawn mower shop will be vacated upon escrow closing. The property is zoned LOCG and LOR1, allowing for mixed-use development (potential buyers should verify zoning with the city). This prime location offers excellent proximity to Torrance Municipal Airport, Crossroad Shopping Center, and Torrance Memorial Medical Center. The property includes twelve parking spaces and comprises five Assessor's Parcel Numbers (APN): 7376-011-007, 008, 018, 019, and 032. Existing structures offer potential for immediate rental income or redevelopment, making this a versatile opportunity for both commercial and residential projects. This 1.1-acre site presents a unique chance to capitalize on a high-demand location and create a significant return on investment.