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1535 W 224th Street

Torrance, CA 90501
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Bed 4

Bed

Bath 2

Bath

SqFt1,596

Sqft

SqFt7,200

Sqft(Lot)

PACKAGE SALE — Both properties must close concurrently. Combined asking price: $1,800,000. 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: Combi ned 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: 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. LOCATION: 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 : ResidentialIncome

Price : $850,000

AD Id : 79153362

MLS Id : PW26108833

Beds : 4

Lot Size : 7,200 Sqft

Living Area Size : 1,596

Year Built : 1961

County : Los Angeles

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Feature Features

  • Interior Features

    Ceiling Fan(s), Quartz Counters, All Bedrooms Down, Main Level Primary
    Roof: Shingle
    Appliances: Dishwasher, Disposal, Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Range Hood, Self Cleaning Oven, Vented Exhaust Fan, Water Heater, Dryer, Washer
    Laundry Features: Washer Hookup, In Kitchen, Stacked
  • Heating & Cooling

    Has Heating: Yes Heating: Combination Has Cooling: Yes Cooling: Dual

  • Building Information

    Year Built: 1961
    Building Area Total: 1596
    Construction Materials: Stucco, Wood Siding
    Stories: 1
    Pool Features: None
    Private Pool: No
    View: None
  • Exterior Features

    Exterior Features: Awning(s)

  • Lot Information

    Main Square Feet: 7200 Lot Size Acres: 0.1653 Lot Size Source: Assessor Lot Size Square Feet: 7,200 Lot Description: 0-1 Unit/Acre

  • Listing Price Information

    Listing Price: $850000
    1031 Exchange, Submit

  • Tax Information

    Parcel Number: 7347002030 Tax Lot: 255 Tax Year: 2026

  • Parking Information

    Parking Total: 13 Assigned, Asphalt, Driveway, Paved, Private, Side By Side, Uncovered

  • Utility Information

    Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Location Information

    Direction: From 110 Freeway, exit 223rd headed west WaterSource: Public Security Features: Carbon Monoxide Detector(s),Fire Detection System,Security Gate,Smoke Detector(s),Security Lights,Window Bars
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1558 W 214th Street, Torrance, CA, 90501 $1,575,000 7 5 2,970 2,970 SqFt
1535 W 224th Street, Torrance, CA, 90501 $850,000 4 2 1,596 1,596 SqFt
1542 W 223rd, Torrance, CA, 90501 $1,100,000 3 3 1,656 1,656 SqFt
1541 W 224th Street, Torrance, CA, 90501 $950,000 6 3 2,558 2,558 SqFt
1546 W 223rd, Torrance, CA, 90501 $1,000,000 3 2 1,360 1,360 SqFt
1510 W 227th, Torrance, CA, 90501 $939,000 8 4 2,786 2,786 SqFt
1625 W 226th, Torrance, CA, 90501 $998,900 6 4 --
1652 Plaza Del Amo, Torrance, CA, 90501 $2,470,000 12 10 4,700 4,700 SqFt
1627 W 228th, Torrance, CA, 90501 $925,000 4 4 2,600 2,600 SqFt
1828 Andreo, Torrance, CA, 90501 $1,690,000 4 2 --

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 08/11/2026 @ 18:39

MLS: PW26108833 LISTED BY: Gilbert Gutierrez, ClearThink Homes 949-514-8445 SOURCE: CRMLS

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