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About the Listing PB22669 - PWGUTGIL
PACKAGE SALE — Both properties must close concurrently. Combined asking price: $1,800,000. 1541 W 224th St, (MLS# PW26112719) must be purchased together with 1535 W 224th St (MLS# PW26112707). 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 from $2,300 to $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. 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.
Listing Highlights
Status
Active
Days on Site
9
Property Type
Residential
MLS ®
PW26112719
Year Built
1961
Total Square Footage
2,558
Lot/Acreage
0.17
Interior Details
- Bedrooms: 6
- Bathrooms: 3 Full
- Appliances: Dishwasher, Disposal, Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Range Hood, Self Cleaning Oven, Vented Exhaust Fan, Water Heater, Dryer, Washer
- Air Cond: Dual
- Heating: Combination,Wall Furnace
- Fireplaces:
- Floor: Vinyl
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Ceiling Fan(s),Quartz Counters,All Bedrooms Down,Main Level Primary
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 13
- Zoning: LARD2
- Roof: Shingle
- Others: Awning(s),Stucco,Wood Siding,2+ Total Units
- Sewer: Public Sewer
- Parking Features: Assigned,Asphalt,Driveway,Gated,Paved,Side By Side
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7347002031
- Tax Year: N/A
Payment Calculator
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1541 W 224th St Torrance, CA 90501
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