1541 W 224th Street, Torrance, CA 90501
Local realty services provided by:ERA North Orange County Real Estate
1541 W 224th Street,Torrance, CA 90501
$899,888
- 6 Beds
- 3 Baths
- - sq. ft.
- Multi-family
- Active
Listed by: gilbert gutierrez
Office: clearthink homes
MLS#:PW26112441
Source:San Diego MLS via CRMLS
Price summary
- Price:$899,888
About this home
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: Sev...
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Home facts
- Listing ID #:PW26112441
- Added:130 day(s) ago
- Updated:October 01, 2026 at 03:01 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:3
Heating and cooling
- Heating:Combination Heating
Structure and exterior
- Construction Materials:Stucco, Wood
- Levels:1 Story
Finances and disclosures
- Price:$899,888
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