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Lomita, CA 90717 25719 Walnut Street

$1,165,000

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Presented By: John Mociak with Avenue Realty Group;
  • MLS# SB24039682
  • 02/27/2024
  • Request Tour
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  • BedBeds • 1
  • BathBaths • 1
  • FootageSQFT • 2,954
  • GarageGarage • 1

Home Details

Major price revision, 5 unit apartment building in Lomita! Prime South Bay market where multifamily properties rarely become available. Well located just North of Pacific Coast Highway in-between Eshelman Avenue and Western Avenue. Wrap-around corner lot with highly sought after layout: (1) front detached house (950 s.f.) with (4) 1 bedroom/1 bath units in the rear (500 s.f. each). Features newer roofs and new individual water heaters for each unit. The house was taken down to the studs and updated/remodeled (2005). 1 of 4 apartment units have been rehabbed (2020). Apartment tenants receive a storage locker 5 x 7 included in their rent located in the parking area and there is an additional structure attached to the rear of the building generating additional monthly storage income. Steady day 1 cash flow + significant rental upside: 5.09% cap rate, 6.45% proforma.
Presented By: John Mociak with Avenue Realty Group;

Interior Features for 25719 Walnut Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem1CommonWall
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Street SuffixStreet
Total Stories2

Other Rooms

Entry Level2

General for 25719 Walnut Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.09
Carport Spaces2.0
Carport Y/NYes
CityLomita
Community FeaturesStormDrains, StreetLights, Suburban, Sidewalks, Urban
Contingencynone
CountyLos Angeles
Days on Market63
DirectionsJust North of PCH, in-between Eshelman and Western. The property is located on the wraparound residential corner of Bland Place and Walnut Street.
Electric Expense450.0
Entry Location3
Fuel Expense0.0
Garage Spaces1.0
Garage Y/NYes
Gross Income94260.0
HOA0.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense2659.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne, Two
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet5331.0
MLS Area121 - Lomita
MaintenanceExpense2000.0
MobileHomeRemainsYNNo
Net Operating Income59343.0
New ConstructionNo
Number of Units Leased5
Open Parking Spaces3.0
Operating Expense32143.0
Pool FeaturesNone
PossessionCloseOfEscrow
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
Street NameWalnut
Tax Annual Amount13747.0
Tax Lot12
Tax Year2024
Taxes$15,485
Total Actual Rent7725.0
Total Units5
Trash Expense1320.0
View Y/NNo
Water Sewer Expense3336.0
Waterfront Y/NNo
Year Built1946
Year Built SourceAssessor
ZoningLOCG*

Exterior for 25719 Walnut Street

Building Area Total2954.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem01UnitAcre
Lot Size Acres0.1224
Lot Size Area5331.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters5
Number of Separate Gas Meters5
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking6.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $1,165,000
MLS#SB24039682
List Date 02/27/2024
Property Type Multi-Family
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors