Active

1541 W 224th Street

Torrance, CA 90501

$950,000 $4,005/Mo

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Overview

Bed

Bath

2,558

Sqft

7,202

Sqft(Lot)

Description

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.

Property Details

Property Type : Residential Income

Price : $950,000

AD Id : 79153363

MLS Id : PW26112441

Beds : 6

Lot Size : 7,202 Sqft

Living Area Size : 2,558

Year Built : 1961

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

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 Building Area Total: 2,558 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 Tax Year: 2026

Garage and Parking

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

Homeowners Association
Rental Info

Lease Term: Negotiable Tenant Pays: All Utilities

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 Income 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 Entry Level: 1 Entry Location: Floor Levels or Stories: One Building Total Stories: 1

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1442 W 219th, Torrance, CA, 90501	$1,100,000	6	3.5	2,962	2,962 SqFt
1535 W 224th Street, Torrance, CA, 90501	$850,000	4	2	1,596	1,596 SqFt
1535 W 224th Street, Torrance, CA, 90501	$850,000	4	2	1,596	1,596 SqFt
1510 W 227th, Torrance, CA, 90501	$939,000	8	4	2,786	2,786 SqFt
1562 W 226th, Torrance, CA, 90501	$949,000	4	4	2,700	2,700 SqFt
1652 Plaza Del Amo, Torrance, CA, 90501	$2,470,000	12	10	4,700	4,700 SqFt
1334 Engracia Avenue, Torrance, CA, 90501	$1,499,000	8	5.5	3,396	3,396 SqFt
903 Amapola, Torrance, CA, 90501	$925,000	2	2	1,312	1,312 SqFt

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ByOwner last updated this listing 06/19/2026 @ 01:56

MLS: PW26112441 LISTED BY: Gilbert Gutierrez, ClearThink Homes 949-514-8445 SOURCE: CRMLS