1535 W 224th Street, Torrance, CA 90501
Local realty services provided by:Better Homes and Gardens Real Estate Napolitano & Associates
1535 W 224th Street,Torrance, CA 90501
$799,888
- 4 Beds
- 2 Baths
- - sq. ft.
- Multi-family
- Active
Listed by: gilbert gutierrez
Office: clearthink homes
MLS#:PW26108833
Source:San Diego MLS via CRMLS
Price summary
- Price:$799,888
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: Sev...
Contact an agent
Home facts
- Listing ID #:PW26108833
- Added:118 day(s) ago
- Updated:September 19, 2026 at 02:07 PM
Rooms and interior
- Bedrooms:4
- Total bathrooms:2
Heating and cooling
- Heating:Combination Heating
Structure and exterior
- Construction Materials:Stucco, Wood
- Levels:1 Story
Finances and disclosures
- Price:$799,888
New listings near 1535 W 224th Street
- Coming Soon
$1,000,050Coming Soon3 beds 2 baths1,044 sq. ft.2151 Middlebrook, Torrance, CA 90501
MLS# SB26197549Listed by: KELLER WILLIAMS REALTY - Coming SoonOpen Sat, 12 to 4pm
$1,190,000Coming Soon3 beds 2 baths1,162 sq. ft.21514 Anza Avenue, Torrance, CA 90503
MLS# SR26203433Listed by: EXP REALTY OF GREATER LOS ANGELES, INC. - Coming Soon
$240,000Coming Soon2 beds 2 baths1,200 sq. ft.22600 Normandie Avenue #12, Torrance, CA 90502
MLS# OC26200963Listed by: HOME WORKS REALTY - New
$550,000Active2 beds 2 baths935 sq. ft.1229 W 223rd Street #211, Torrance, CA 90502
MLS# SB26176943Listed by: CENTURY 21 COASTAL PROPERTIES - Open Sun, 1 to 4pmNew
$1,025,000Active4 beds 2 baths1,423 sq. ft.3917 W 176th, Torrance, CA 90504
MLS# PW26204899Listed by: KELLER WILLIAMS REALTY - Open Sun, 1 to 3pmNew
$935,000Active2 beds 2 baths1,305 sq. ft.5920 S Pacific Coast Highway #30, Redondo Beach, CA 90277
MLS# SB26204646Listed by: COMPASS - New
$529,000Active1 beds 2 baths967 sq. ft.22929 Nadine Circle #A, Torrance, CA 90505
MLS# CL26989965Listed by: COLDWELL BANKER REALTY - Open Sun, 2 to 4pmNew
$1,399,900Active3 beds 2 baths1,343 sq. ft.20610 Mansel, Torrance, CA 90503
MLS# DW26203759Listed by: FIRST TEAM REAL ESTATE - Open Sun, 2 to 5pmNew
$1,398,000Active4 beds 2 baths1,776 sq. ft.20816 Reynolds, Torrance, CA 90503
MLS# RS26196623Listed by: CENTURY 21 CORNERSTONE - New
$1,100,000Active5 beds 3 baths1,821 sq. ft.18517 Illinois Court, Torrance, CA 90504
MLS# SB26203075Listed by: DUO PROPERTY MANAGEMENT