6% Cap with ADU Upside potential to 18% IRR | 1623 Lomita Blvd
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6% Cap with ADU Upside potential to 18% IRR 1623 Lomita Blvd
14 Unit Block of Flats £2,484,650 (£177,475/Unit) 6% Net Initial Yield Harbor City, CA 90710
Executive Summary
Exceptional Investment Opportunity – High Cap Rate with Significant Upside Potential!
This prime investment property offers a 6.00% cap rate and 9.99 GRM with immediate upside potential. By adding two ADUs (Buyer to Verify), you can achieve an impressive potential 6.81% cap rate and 8.96 GRM, with a remarkable 8.04% pre-tax cash flow with no additional turnover.
Additional highlights include:
• 18% IRR potential after adding two ADUs
• Copper plumbing for enhanced durability and reliability
• Dual pane windows for energy efficiency and soundproofing
Take advantage of this rare opportunity to maximize your returns with a value-add investment!
Contact us today for more information or to schedule a tour.
________________________________________
This prime investment property offers a 6.00% cap rate and 9.99 GRM with immediate upside potential. By adding two ADUs (Buyer to Verify), you can achieve an impressive potential 6.81% cap rate and 8.96 GRM, with a remarkable 8.04% pre-tax cash flow with no additional turnover.
Additional highlights include:
• 18% IRR potential after adding two ADUs
• Copper plumbing for enhanced durability and reliability
• Dual pane windows for energy efficiency and soundproofing
Take advantage of this rare opportunity to maximize your returns with a value-add investment!
Contact us today for more information or to schedule a tour.
________________________________________
Property Facts
| Price | £2,484,650 | Apartment Style | Low Rise |
| Price Per Unit | £177,475 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Net Initial Yield | 6% | Building Size | 10,620 SF |
| Gross Rent Multiplier | 9.99 | Average Occupancy | 100% |
| No. Units | 14 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.22/1,000 SF |
| Price | £2,484,650 |
| Price Per Unit | £177,475 |
| Sale Type | Investment |
| Net Initial Yield | 6% |
| Gross Rent Multiplier | 9.99 |
| No. Units | 14 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 10,620 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.22/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Freezer
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 5 | - | - |
| 2+1 | 1 | - | - |
| 2+2 | 4 | - | - |
| 3+2 | 2 | - | - |
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Walk Score ®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 7439-025-025 | Improvements Assessment | £964,211 |
| Land Assessment | £1,227,178 | Total Assessment | £2,191,389 |
PROPERTY TAXES
Parcel Number
7439-025-025
Land Assessment
£1,227,178
Improvements Assessment
£964,211
Total Assessment
£2,191,389
zoning
| Zoning Code | R3 |
| R3 |
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6% Cap with ADU Upside potential to 18% IRR | 1623 Lomita Blvd
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