1535 W 224th Street, Torrance, CA 90501
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Ruben Lafuente

Ruben Lafuente

+1(619) 500-2997
$ 799,888
Est. payment /mo
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Price Dropped by $50K

1535 W 224th Street Torrance, CA 90501

4 Beds

2 Baths

1,596 SqFt

UPDATED:

Key Details

Property Type Townhouse

Sub Type Townhome

Listing Status Active

Purchase Type For Sale

Square Footage 1,596 sqft

Price per Sqft $501

MLS Listing ID PW26112707

Style Cottage

Bedrooms 4

Full Baths 2

Year Built 1961

Lot Size 7,200 Sqft

Property Sub-Type Townhome

Property Description

PACKAGE SALE Both properties must close concurrently. 1541 W 224th St, (MLS# PW26112719) must be purchased together with 1535 W 224th St (MLS# PW26112707). 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 from $2,300 to $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 CONDI

Location

State CA

County Los Angeles

Zoning LARD2

Direction From 110 Freeway, exit 223rd headed west

Interior

Heating Combination Heating

Cooling Dual

Flooring Linoleum/Vinyl

Fireplace No

Appliance Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer, Gas Oven, Self Cleaning Oven, Vented Exhaust Fan, Gas Range

Laundry Washer Hookup

Exterior

Parking Features Assigned

Fence Wood

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

Water Access Desc Public

Roof Type Shingle

Accessibility Doors - Swing In

Total Parking Spaces 13

Building

Story 1

Sewer Public Sewer

Water Public

Level or Stories 1

Others

Senior Community No

Tax ID 7347002030

Acceptable Financing Exchange, Submit

Listing Terms Exchange, Submit

Special Listing Condition Standard

MLS Router / San Diego MLS
Listed by Gilbert Gutierrez, DRE#02022002 ClearThink Homes 
Ruben Lafuente

Ruben Lafuente

Agent | License ID: 01965249

+1(619) 500-2997

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1535 W 224th Street