1541 W 224th Street, Torrance, California 90501, Torrance, 90501 - 6 bed, 3 bath
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Torrance, California 90501
This 5-unit triplex presents a High-Potential Investment Opportunity with a List Price of $950,000—positioned well below the $949,080 Fair Market Value (effectively at market). This LARD2 zoned asset offers significant upside through rent stabilization and ADU development potential. With a Condition Rating of 3, the property features recent interior upgrades and stable, long-term tenancy. Its proximity to the $1.7 billion Harbor-UCLA Medical Center expansion ensures sustained rental demand. This is a strategic acquisition ideal for Buy-and-Hold Investors or Portfolio Developers seeking immediate cash flow and long-term growth.
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 | 6 | 3 | 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.
Although built in 1961, the property is well-maintained with several units featuring recent interior upgrades including quartz countertops, new cabinetry, updated flooring, and subfloor plumbing, making it move-in ready.
As a triplex priced under $1,000,000, this property qualifies for conventional residential financing rather than commercial loans, allowing for lower down payments and more competitive interest rates.
The property offers significant rent upside with current averages at $1,740 versus $2,300 market rates, complemented by LARD2 zoning that supports the development of multiple ADUs for increased yield.
Situated near the $1.7 billion Harbor-UCLA Medical Center expansion and major employment corridors, the property is ideally positioned to capture high rental demand from a growing workforce.
The requirement to purchase this property concurrently with the adjacent parcel for a combined $1,800,000 increases the total capital requirement and limits flexibility for single-lot investors.
Subject to the Los Angeles City Rent Stabilization Ordinance (RSO), the property faces strict caps on annual rent increases, which may prolong the timeline to achieve full market-rate stabilization.
PACKAGE SALE — Both properties must close concurrently. Combined asking price: $1,800,000. 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 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. 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 | 6.0 | 0.0 | 92% |
| Baths | 3.0 | 0.0 | 92% |
| 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