1541 W 224th Street
Torrance, CA 90501
$899,888
- 0.17 acres
- Built 1961
Listed by ClearThink Homes · MLS #PW26112441
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1541 W 224th Street, Torrance, CA 90501 · MLS #PW26112441
A FEW THINGS TO NOTICE
What stands out.
Year built
Built in 1961.
Property size
0.17 acres listed.
Highlights from the listing description and property details. Confirm features with the listing agent.
THE PROPERTY
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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.
THE NEIGHBORHOOD
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1541 W 224th Street, Torrance, CA 90501
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THE DETAILS
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- Property type
- ResidentialIncome
- Category
- Residential
- Year built
- 1961
- Garage spaces
- 0
- Cooling
- Dual
- Heating
- Combination,WallFurnace
- Appliances
- Dishwasher,Disposal,GasOven,GasRange,GasWaterHeater,Microwave,Refrigerator,RangeHood,SelfCleaningOven,VentedExhaustFan,WaterHeater,Dryer,Washer
- Flooring
- Vinyl
- Utilities
- CableConnected,ElectricityConnected,NaturalGasConnected,SewerConnected
- Fencing
- Wood
- Accessibility
- Parking,AccessibleDoors
- Pool
- No
- Pool features
- None
- Spa
- No
- Zoning
- LARD2
- Parcel
- 7347002031
- HOA fee
- $0.00
Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.
OWNERSHIP, WITH A PLAN
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$79,000
$795,000
$1,699,000Listing information
MLS #PW26112441 · California Regional MLS
Listing brokerage: ClearThink Homes
Listing agent: Gilbert Gutierrez
Listing status: Active. Record updated . Confirm current availability and price with the listing agent.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright © 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright © 2023 California Regional Multiple Listing Service, Inc. All rights reserved.