25317 Cypress Street,  Lomita CA, 90717 (Residential Income)

6,148 sqft
Status: Sold
MLS#: SB15110759
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Last Updated: 12/9/2016 1:14 PM
Description for 25317 Cypress Street Lomita, CA 90717
Quite possibly THE BEST opportunity available in the South Bay. The subject property consists of 12 single story apartment units situated on a 19,000+ square foot lot. All units are single story offering fewer shared walls and which command a higher rent per square foot. The unit mix is mostly 2BR and consists of 8-2BR/1BA, 2-1BR/1BA and 2-Studios. There is an onsite laundry facility with owned washer/dryer that provides additional income. Please do not walk the property or under any circumstances talk to the tenants as they are unaware of the sale. Prime location in the non-rent controlled City of Lomita. The property is located on a quiet tree lined street surrounded by mostly single family homes. It is walking distance to Rolling Hills Plaza (Whole Foods, Trader Joe's, Rite Aid, 24 Hour Fitness, AMC Movie Theatre, etc). It is only 2 blocks from South Torrance and very close to the Rolling Hills Country Club. Priced at a 4.82% on in place income/expenses, with upside to 5.5%+CAP on conservative market rents.
Price
Sold Price:
$2,320,000
Sold Date:09/08/2015
Los Angeles
6,148 (approx)
SB15110759
Closed
Description
Quite possibly THE BEST opportunity available in the South Bay. The subject property consists of 12 single story apartment units situated on a 19,000+ square foot lot. All units are single story offering fewer shared walls and which command a higher rent per square foot. The unit mix is mostly 2BR and consists of 8-2BR/1BA, 2-1BR/1BA and 2-Studios. There is an onsite laundry facility with owned washer/dryer that provides additional income. Please do not walk the property or under any circumstances talk to the tenants as they are unaware of the sale. Prime location in the non-rent controlled City of Lomita. The property is located on a quiet tree lined street surrounded by mostly single family homes. It is walking distance to Rolling Hills Plaza (Whole Foods, Trader Joe's, Rite Aid, 24 Hour Fitness, AMC Movie Theatre, etc). It is only 2 blocks from South Torrance and very close to the Rolling Hills Country Club. Priced at a 4.82% on in place income/expenses, with upside to 5.5%+CAP on conservative market rents.
Listing Information
Property Type: Cluster, 1 Story
0.44 Acres 19,062 sq.ft. 6,148 (approx)
1949 Yes- 1 space
1
Public Water Service
Sewer at Street
12 Total
Neighborhood
Room Information
Common
Exterior / Lot Features
1 Garage Spaces, 15 Parking Spaces
None
No Pool
Suburban
Financial Considerations
7373004014
$151,416 Income ,$43,307Expense
Listing Price History

Lomita Real Estate

Lomita is located in California. Lomita, California 90717 has a population of 20,319.

The median household income in Lomita, California 90717 is $62,899. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Lomita 90717 is 39.5 years.

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Courtesy: RE/MAX Commercial & Inv Realty Brian Estes
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