1541 W 224th Street, Torrance, CA 90501
Local realty services provided by:CENTURY 21 Experience
1541 W 224th Street,Torrance, CA 90501
$899,888
- - Beds
- - Baths
- 2,558 sq. ft.
- Multi-family
- Active
Listed by: gilbert gutierrez
Office: clearthink homes714-794-5278
MLS#:PW26112441
Source:CRMLS
Price summary
- Price:$899,888
- Price per sq. ft.:$351.79
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: 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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Home facts
- Year built:1961
- Listing ID #:PW26112441
- Added:155 day(s) ago
- Updated:October 26, 2026 at 11:13 AM
Rooms and interior
- Flooring:Vinyl
- Kitchen Description:Dishwasher, Disposal, Gas Oven, Gas Range, Microwave, Range Hood, Refrigerator, Self Cleaning Oven, Vented Exhaust Fan
- Living area:2,558 sq. ft.
Heating and cooling
- Cooling:Dual
- Heating:Combination, Wall Furnance
Structure and exterior
- Roof:Shingle
- Year built:1961
- Building area:2,558 sq. ft.
- Lot area:0.17 Acres
- Architectural Style:Cottage
- Construction Materials:Stucco, Wood Siding
- Exterior Features:Awnings
- Levels:1 Story
Utilities
- Water:Public
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$899,888
- Price per sq. ft.:$351.79
Features and amenities
- Appliances:Dishwasher, Disposal, Dryer, Washer
- Laundry features:Dryer, Inside, Stacked, Washer
- Amenities:All Bedrooms Down, Carbon Monoxide (CO2) Detector, Ceiling Fans, Gas Water Heater, Quartz Counters, Water Heater
Parking
- Total parking spaces:13
- Parking description:Asphalt, Assigned, Driveway, Gated, Paved, Side By Side
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