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Price Reduced Listing
$799,888
 $4,294 est/mo Sourced by Back At You

1535 W 224th Street,Torrance, CA 90501

Torrance, CA 90501

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Description

PACKAGE SALE Both properties must close concurrently. 1541 W 224th St, (MLS# PW26112441) must be purchased together with 1535 W 224th St (MLS# PW26108833). Do not disturb tenants. 5-unit, two-parcel value-add opportunity in Harbor Gateway. Two adjacent lots totaling 14,402 sq ft zoned LARD2, each on its own APN. 1541 W 224th St is a 3-unit triplex (6 BR / 3 BA, 2,558 sq ft); 1535 W 224th St is a 2-unit duplex (4 BR / 2 BA, 1,596 sq ft). Both built 1961, well-maintained. RESIDENTIAL FINANCING: Each parcel is priced independently under $1,000,000 and qualifies for conventional residential financing on its own APN no commercial loan required. Lower down payment, better rates, and access to a significantly larger lender pool. ADU POTENTIAL: Combined 14,402 sq ft LARD2 zoning supports multiple additional dwelling units under CA state law. Harbor Gateway ADU rents currently range $2,300-$2,600/mo, with each additional unit delivering meaningful income and asset value growth. RENT UPSIDE: Current blended rent averages $1,740/mo per unit against market rents of approximately $2,300/mo. Rents governed by LA City RSO currently 3% annually for 2026 providing steady, compounding income growth as units turn. At stabilized market rents: pro forma gross income approximately $141,600/yr and pro forma NOI exceeding $99,500/yr, no ADUs required. MULTIPLE EXIT STRATEGIES: Hold as a stabilized combined portfolio. Develop ADUs to maximize NOI and asset value. Sell parcels individually once stabilized each independently financeable. Phased development across two lots. PROPERTY CONDITION: Several units have received interior upgrades including bathroom remodels, kitchen improvements (new cabinetry and quartz countertops), subfloor plumbing, and new flooring throughout. Four of five tenants have occupied 10+ years stable cash flow from day one. LOCATION: Direct 110 Fwy access. Minutes to the Port of LA, South Bay employment corridor, and Downtown Los Angeles. Short distance from Harbor-UCLA Medical Center site of LA County's largest-ever healthcare capital project, a $1.7 billion replacement and expansion currently under construction.

Details

MLS #PW26108833
Listing TypeFor Sale
StyleDuplex
Sub-TypeResale
StatusActive
Year1961
Days On Site87
Listing Provided ByClearThink Homes | Gilbert Gutierrez

Features

SQ Feet1,596
Story(s)1
Units2
Building(s)2
ZoningLARD2
Acreage0.17
Property ViewNone

Interior

CoolingDual
HeatingCombination
Heating Yes / NoYes
Cooling Yes / NoYes
Interior FeaturesCeiling Fans, Quartz Counters, All Bedrooms Down, Main Level Primary
AppliancesDishwasher, Disposal, Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Range Hood, Self Cleaning Oven, Vented Exhaust Fan, Water Heater, Dryer, Washer

Exterior

Exterior FeaturesAwnings
RoofShingle
Security FeaturesCarbon Monoxide Detectors, Fire Detection System, Security Gate, Smoke Detectors, Security Lights, Window Bars
Construction MaterialsStucco, Wood Siding
Lot FeaturesZero To One Unit Acre
FencingWood

Parking

Parking FeaturesAssigned, Asphalt, Driveway, Paved, Private, Side By Side, Uncovered
Garage Yes / NoNo

Utilities

UtilitiesCable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
SewerPublic Sewer

Location

Community FeaturesCurbs, Storm Drains, Street Lights, Sidewalks

Area Information

StateCA
CountyLos Angeles
CityTorrance
Zip Code90501
Area122 Harbor Gateway
Listing VS Median (in 90501)
Price:
$799,888
low | high
Med:
$899,888
37.498249754966% of Average
sqft:
1,596
low | high
Med:
2,558
10.275689223058% of Average
$ / sqft:
$501
low | high
Med:
$352
79.80735207542% of Average
On site:
87
low | high
Med:
87
100% of Average
Sourced by Back At You

Market Activity 90501

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Desert Lifestyle Properties

Desert Lifestyle Properties

 (760) 818-7518info@desertlifestyleproperties.com
StateCA
CountyLos Angeles
CityTorrance
Zip Code90501
Area122 Harbor Gateway
Listing VS Median (in 90501)
Price:
$799,888
low | high
Med:
$899,888
37.498249754966% of Average
sqft:
1,596
low | high
Med:
2,558
10.275689223058% of Average
$ / sqft:
$501
low | high
Med:
$352
79.80735207542% of Average
On site:
87
low | high
Med:
87
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $599K - $999K
sqft: 1,000 - 1,500
Nearby Listings Property ImageNearby Listings Details
1546 W 223rd Property Photo 1
$1,000,000
1546 W 223rd
Los Angeles, CA 90501
1546 W 223rd Property Photo 1
$1,000,000
1546 W 223rd
Los Angeles, CA 90501
Listing Updated: August 14, 2026 at 1:11:19 PM PDT
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