1651 251st St — Sale in Harbor City, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Harbor City, CA 90710

Investment Figures

Cap rate
3.43%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present to market 1651 251st Street in Harbor City, California. This offering presents an excellent opportunity to acquire a three-bed/two-bath home and a two-bed/one-bath home on one lot. The homes feature laundry hookups, patios, and separate gas and electric meters. Additionally, a detached building in the rear offers three garage parking spaces. This property’s detached, single-story floor plans and laundry and garage amenities are sought-after in this rental market. 1651 251st Street is located on the border of Harbor City and Lomita in the desirable inland South Bay. Situated near the intersection of Lomita Boulevard and Western Avenue, the property is proximate to schools, retail, and the 110 Freeway. Both homes can be delivered vacant, making this an ideal owner-user opportunity. Investment Highlights: • Ideal owner-user opportunity: two homes on one lot and both can be delivered vacant • Competitively priced at $452 per sqft, well-below comparable sales and Harbor City's average single-family price per sqft • Amenities include in-unit laundry hookups, garages, and patios • 27 Percent rental upside • Located in the desirable inland South Bay rental market on the border of Harbor City and Lomita

Market Context

This multifamily in Harbor City, CA is listed for sale. It is offered at an approximate 3.4% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Harbor City, CA — view the full market.

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