24606 Narbonne Avenue, Lomita, California 90717, Lomita, 90717 - bed, bath

ACTIVE$1,450,000
24606 Narbonne Avenue, Lomita, California 90717
0Bed
0Bath
7,026Sqft
3,838Lot
Year Built
1922
Close
-
List price
$1.45M
Original List price
$1.6M
Price/Sqft
$206
HOA
-
Days on market
-
Sold On
-
MLS number
SB25045070
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros.
Best corner location in the South Bay area! A unique mixed-use building in a great location in the South Bay area! The property is zoned LOCG-commercial, and used as mixed units. No parking on this property. Property with high potential for development! 2 retail spaces downstairs and 6 residential units upstairs with 0 vacancies. Quick income! Rents are current. Tenants are month to month except for one of the retail spaces—potential for more income. Please do not disturb the tenants! Subject to inspection. The buyer will verify the sqft of each unit and the information. This location has 3 addresses, 24600, 24606 & 24608 with 1 APN number. Negotiable.
Price History
Date
Event
Price
04/02/14
Sold
$1,030,000
06/20/03
Sold
$560,000
Condition Rating
Poor
Built in 1922, this mixed-use property is over a century old. The limited interior images, specifically the hallway, reveal significant deferred maintenance with worn flooring, peeling paint, and exposed utility lines, indicating a very dated and neglected condition. While the property is occupied and generating income, the residential units, including kitchens and bathrooms (for which no specific photos are provided, suggesting they are not a selling point), are highly likely to require substantial repairs, rehabilitation, and system upgrades to meet modern living standards. The age of the building and visible wear suggest major components are outdated and will need significant capital expenditure.
Pros & Cons
Pros
Prime Corner Location: Described as the 'Best corner location in the South Bay area,' offering high visibility and strategic positioning for commercial success.
Diversified Income Stream: A unique mixed-use building with 2 retail spaces and 6 residential units, providing multiple income sources and stability.
Full Occupancy & Immediate Cash Flow: Currently boasts 0 vacancies with rents current, ensuring immediate and stable income for an investor from day one.
Development Potential: Zoned LOCG-commercial with high potential for development, suggesting future value appreciation or redevelopment opportunities.
Flexible Lease Terms: Most tenants are on month-to-month leases, offering flexibility for rent adjustments, tenant changes, or future redevelopment plans.
Cons
Lack of On-Site Parking: The property explicitly states 'No parking on this property,' which is a significant drawback for both retail customers and residential tenants in a commercial area.
Age of Property: Built in 1922, the building is over a century old, potentially indicating a need for significant capital expenditures for deferred maintenance, system upgrades, or adherence to modern building codes.
Buyer Due Diligence Burden: The listing states 'The buyer will verify the sqft of each unit and the information' and 'Subject to inspection,' placing a considerable burden on the buyer for thorough and potentially costly investigations.




