
Lomita, California 90717
This Residential Income Duplex is a Strong Value Opportunity, listed at $898,000—positioned well below the $975,669 Fair Market Value by 7%. This valuation gap offers $77,669 in Instant Equity. Featuring a Mint Condition Rating with recent renovations, the property minimizes capital expenditure while offering immediate rental upside and ADU feasibility. This asset is an ideal acquisition for Buy-and-Hold Investors seeking stable cash flow or Owner-Occupants looking to house-hack in a high-demand Lomita pocket.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2016 248th Street Subject | $898,000* List Price | 3 | 2 | 1,800 | $542 | - |
A 1757 252nd Sold | $1,064,000 | 0 | 0 | 1,902 | $559 | 0.4 mi |
B 1941 257th Street Pending | $950,000 List Price | 0 | 0 | 1,515 | $627 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1925, the property has undergone a comprehensive renovation within the last 5 years. It features a new roof, new flooring, and completely updated kitchens and bathrooms with modern stainless steel appliances and shaker cabinetry, meeting the criteria for mint condition with no immediate maintenance required.
Both units feature significant recent upgrades including new roofs, kitchens, bathrooms, and appliances, minimizing immediate capital expenditure for the buyer.
The property offers ADU feasibility and private yards with mature fruit trees, providing a clear path for future expansion and increased rental yield.
With one unit generating $2,900 and the second unit available to be vacated shortly after closing, there is an immediate opportunity to reposition the asset at current market rates.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1800, other record living area = 1680.
The tandem pass-through room in Unit 1 may be less desirable for tenants seeking a traditional private second bedroom, potentially impacting long-term tenant retention.
Originally relocated from downtown Los Angeles in the 1920s, the property's age and unique history may necessitate more rigorous structural inspections compared to newer builds.
Upgraded duplex in a high-demand Lomita pocket with strong income and future upside. Originally built in 1927 and relocated from downtown Los Angeles during the construction of the 110 Freeway, the property carries a distinctive architectural profile paired with modern improvements. Both units have been updated with new flooring, all new appliances, new kitchens/ bathrooms and a new roof, reducing near-term capital expenditure. Each unit includes a private yard with mature fruit trees and additional value-add potential, including ADU feasibility (buyer to verify). Unit 1: 1 bedroom plus tandem pass-through room with closet, suitable for a second bedroom or office; currently leased month-to-month at $2,900. Unit 2: 1 bedroom; occupant is paying below-market rent and can vacate within 60 days after close of escrow, creating immediate repositioning opportunity. Both units feature defined living and dining areas along with washer/dryer hookups. The asset is straightforward to lease and aligns with current rental demand metrics in the submarket. Subject to inspection. Listing agent is a partial owner. Buyer to independently verify all information.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 7.5 |
| Baths | 2.0 | 5.5 |
| Square foot | 1,800 | 2,842 |
| Lot Size | 4,883 | 8,426 |
| Price | $898.0K | $1.31M |
| Price per sq ft | $499 | $564 |
| Built year | 1925 | 1975 |
| HOA | $0 | $0 |
| Days on market | 15 | 187 |
Aug 25, 2026
$898,000
Initial Listing
Jan 25, 2022
$735,000
Public Record
May 29, 1997
$120,000
Public Record