Active

1541 W 224th Street

Torrance, CA 90501
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Bed 6

Bed

Bath 3

Bath

SqFt2,558

Sqft

SqFt7,202

Sqft(Lot)

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: Combine d 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.

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Detail Ic Property Details

Property Type : Residential

Price : $950,000

AD Id : 79203384

MLS Id : PW26112719

Beds : 6

Lot Size : 7,202 Sqft

Living Area Size : 2,558

Year Built : 1961

County : Los Angeles

  • Map Map

Map

Map What's Nearby

Map Nearby Areas

Feature Features

  • Bedroom Information

    Total Bedrooms: 6

    Bathroom Information

    Total Baths: 3 Full Baths: 3

    Water/Sewer

    Water Source: Public Sewer: Public Sewer
  • Interior Features

    Roof: Shingle Exterior Property Features: Awning(s) Interior Features: Ceiling Fan(s),Quartz Counters,All Bedrooms Down,Main Level Primary Property Appliances: Dishwasher,Disposal,Gas Oven,Gas Range,Gas Water Heater,Microwave,Refrigerator,Range Hood,Self Cleaning Oven,Vented Exhaust Fan,Water Heater,Dryer,Washer Fireplace: None Flooring: Vinyl
  • Cooling Features

    Dual Air Conditioning

    Heating Source

    Combination,Wall Furnace Has Heating

    Fireplace

    Fireplace Features: None Has Fireplace: 0

  • Building Information

    Year Built: 1961 Construction: Stucco,Wood Siding Roof: Shingle
  • Exterior Features

    Awning(s)

    Security Features

    Carbon Monoxide Detector(s),Fire Sprinkler System,Smoke Detector(s),Security Lights,Window Bars
  • Accessibility Features

    Parking,Accessible Doors

    Pool Features

    None

    Laundry Features

    Washer Hookup,Gas Dryer Hookup,Inside,In Kitchen,Stacked

    Fencing

    Wood

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1653
  • Lot Size Source: Assessor Lot Size Square Feet: 7202

  • Listing Price Information

    Original List Price: 950,000 Listing Contract Date: 2026-05-21
  • Lease Information

    Listing Agreement: Exclusive Right To Sell

  • Tax Information

    Parcel Number: 7347002031

  • Garage and Parking

    Garage Description: Assigned,Asphalt,Driveway,Gated,Paved,Side By Side

    Homeowners Association

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: 122 - Harbor Gateway Directions: From 110 Fwy, exit 223rd head head West Zoning: LARD2 Source Property Type: Residential Area: 122 - Harbor Gateway Property SubType: Triplex
  • Building and Construction

    Property Age: 65 Common Walls: No Common Walls Structure Type: Triplex Year Built Source: Assessor Total Square Feet Living: 2558 Entry Level: 1 Entry Location: Floor Levels or Stories: One Building Total Stories: 1 Structure Type: Triplex
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
20828 Brighton, Torrance, CA, 90501 $999,990 3 2 1,290 1,290 SqFt
21125 Normandie Avenue, Torrance, CA, 90501 $1,099,000 4 3 2,231 2,231 SqFt
20315 Denker Avenue #34, Torrance, CA, 90501 $130,000 1 1 408 408 SqFt
21611 Normandie Avenue, Torrance, CA, 90501 $1,149,000 4 3 2,231 2,231 SqFt
1328 W 214th Street, Torrance, CA, 90501 $999,999 4 2 1,800 1,800 SqFt
20845 Denker, Torrance, CA, 90501 $824,900 3 1 1,080 1,080 SqFt
1566 W 208th Street, Torrance, CA, 90501 $890,000 3 1 1,760 1,760 SqFt
1453 W 215th, Torrance, CA, 90501 $850,000 3 1 1,150 1,150 SqFt
1627 W 206th Street, Torrance, CA, 90501 $2,495,000 16 -- 7,756 7,756 SqFt
1630 W 206th, Torrance, CA, 90501 $1,480,000 6 3 2,180 2,180 SqFt

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ByOwner last updated this listing 06/18/2026 @ 16:13

MLS: PW26112719 LISTED BY: Gilbert Gutierrez, ClearThink Homes 949-514-8445 SOURCE: CRMLS

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