1535 W 224th Street, Torrance, CA 90501
Local realty services provided by:ERA North Orange County Real Estate
1535 W 224th Street,Torrance, CA 90501
$799,888
- 4 Beds
- 2 Baths
- 1,596 sq. ft.
- Townhouse
- Active
Listed by: gilbert gutierrez
Office: clearthink homes
MLS#:PW26112707
Source:San Diego MLS via CRMLS
Price summary
- Price:$799,888
- Price per sq. ft.:$501.18
About this home
PACKAGE SALE Both properties must close concurrently. 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 CONDI...
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Home facts
- Year built:1961
- Listing ID #:PW26112707
- Added:106 day(s) ago
- Updated:September 07, 2026 at 02:26 PM
Rooms and interior
- Bedrooms:4
- Total bathrooms:2
- Full bathrooms:2
- Flooring:Linoleum/Vinyl
- Kitchen Description:Dishwasher, Disposal, Gas Oven, Gas Range, Microwave, Refrigerator, Self Cleaning Oven, Vented Exhaust Fan
- Living area:1,596 sq. ft.
Heating and cooling
- Cooling:Dual
- Heating:Combination Heating
Structure and exterior
- Roof:Shingle
- Year built:1961
- Building area:1,596 sq. ft.
- Architectural Style:Cottage
- Construction Materials:Stucco, Wood
- Levels:1 Story
Utilities
- Water:Public, Water Connected
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$799,888
- Price per sq. ft.:$501.18
Features and amenities
- Appliances:Dishwasher, Disposal, Dryer, Gas Oven, Gas Range, Microwave, Refrigerator, Self Cleaning Oven, Vented Exhaust Fan, Washer
- Laundry features:Dryer, Washer, Washer Hookup
Parking
- Total parking spaces:13
- Parking description:Assigned
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