25615 Western Ave Lomita, CA 90717-2742

This exceptional 18-unit apartment building in Harbor City, Los Angeles, presents a compelling investment opportunity. The property, situated on a 14,167 square foot lot, boasts 12,730 square feet of living space, encompassing ten one-bedroom/one-bathroom and eight two-bedroom/one-bathroom units. Currently operating at 100% occupancy, the building offers a strong initial 5.02% cap rate, with significant potential for growth to a 10.34% pro-forma cap rate through unit turnover. The asking price is $2,800,000, translating to $155,555.56 per unit and $219.95 per square foot. Built in 1962, the two-story building is classified as Class B and benefits from recent upgrades, including a brand-new roof (2023), upgraded windows in 17 units, and a completely renovated pool area. Modern laminate flooring is featured in most units, and each unit has an individual hot water heater. The property includes 18 parking spaces and is zoned LAR3. Its prime location offers convenient access to the 110 Freeway and Pacific Coast Highway, along with nearby shopping, dining, entertainment, and Ken Malloy Harbor Regional Park. Subject to the Los Angeles Rent Stabilization Ordinance (RSO), this property offers a blend of immediate income and substantial long-term value appreciation potential. The current NOI is $140,478, with a pro-forma NOI of $289,608.