1541 W 224th Street, Torrance, California 90501, Torrance, 90501 - 0 bed, 0 bath
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Torrance, California 90501
This High-Potential Investment Opportunity is a Triplex listed at $950,000—positioned well below the $949,080 Fair Market Value (effectively at market). Featuring a Condition Rating of 3, this asset includes recent interior upgrades and LARD2 Zoning for ADU expansion. With current rents significantly below market, this property offers a clear path to increased NOI. Proximity to the $1.7 billion Harbor-UCLA expansion ensures long-term rental demand. This is a strategic acquisition ideal for Buy-and-Hold Investors or Portfolio Builders seeking stable cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1541 W 224th Street Subject | $950,000* List Price | 0 | 0 | 2,558 | $371 | - |
A 1562 W 226th Active | $999,500 List Price | 0 | 0 | 2,700 | $370 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While built in 1961, the property is well-maintained with significant recent interior capital improvements to several units, including modern quartz countertops, new cabinetry, updated flooring, and subfloor plumbing, making it move-in ready for tenants.
Priced under $1,000,000 on its own APN, this triplex qualifies for conventional residential financing, allowing investors to secure lower interest rates and down payments compared to commercial loans.
The LARD2 zoning and large lot size support ADU development, while the current rents sit approximately 32% below market rates, offering a clear path to increased NOI and asset appreciation.
Proximity to the $1.7 billion Harbor-UCLA Medical Center expansion ensures a permanent high-demand rental pool and long-term neighborhood growth driven by massive healthcare infrastructure investment.
The requirement to close concurrently with the adjacent property at a combined $1,800,000 price point limits the buyer pool to those with higher capital reserves and more complex financing needs.
Being subject to the LA City Rent Stabilization Ordinance (RSO) limits annual rent increases to 3%, which may delay the realization of market-level returns despite the significant existing rent upside.
PACKAGE SALE — Both properties must close concurrently. Combined asking price: $1,800,000. 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: 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.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades K-5 • 0.7 mi
Grades K-5 • 2.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,558 | 1,869 | 58% |
| Lot Size | 7,202 | 6,824.5 | 50% |
| Price | $950.0K | $1.05M | 33% |
| Price per sq ft | $371 | $534 | 25% |
| Built year | 1961 | 1947 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 104 | 8% |
May 31, 2026
$950,000
Initial Listing
Mar 8, 2022
$727,500
Public Record