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Listed by Joshua Hammond, DRE #01815056 • Compass
$ 1,149,000
Est. payment /mo
New
1503 257th Harbor City, CA 90710
6,710 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26139825
Year Built 1951
Lot Size 6,710 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
Property Description
This fully occupied 4-unit quadruplex at 1503 W 257th St offers one of the most compelling value-add stories on the market today - with rents significantly below market rate, the path to a 7% CAP rate is already mapped out for you. Major updates in 2020: Full remodel of front house, exterior paint and termite clerance/tenting. The property currently generates $5,543/month in gross rents, but make no mistake - that number tells only half the story. With units priced well under prevailing market rents in the Harbor City area, a savvy buyer has immediate runway to close the gap and dramatically boost NOI. Bring rents to market and this property performs at a 7% CAP rate - exceptional for the Los Angeles South Bay market. Spanning 3,551 sq ft across 9 bedrooms and 4 bathrooms on a corner lot, this well-maintained quadruplex offers the scale to move the needle. Four garage spaces add a premium amenity that commands top-of-market rents and reduces vacancy. In-unit laundry hookups in each unit further strengthen the rental appeal. Harbor City's fundamentals back up the upside. A Walk Score of 87 means tenants aren't going anywhere - strong walkability drives demand, limits vacancy, and supports rent growth over time. With schools, shopping, and transit all nearby, this locati
Location
State CA
County Los Angeles
Area 124 - Harbor City
Interior
Laundry Gas Hookup, In Kitchen
Exterior
Garage Spaces 4.0
Pool None
Building
Water District - Public
Others
Tax ID 7410008032
Special Listing Condition Not Applicable
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