2016 248th Street, Lomita, California 90717, Lomita, 90717 - 3 bed, 2 bath
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Lomita, California 90717
This Turnkey Residential Income Duplex is listed at $998,000—positioned below the $1,003,805 Fair Market Value by 1%. This valuation provides $5,805 in Instant Equity for an asset boasting a Mint Condition Rating following a comprehensive renovation of the kitchens, bathrooms, and roof. Featuring private yards with mature fruit trees and ADU Feasibility, the property offers significant income upside in a high-demand Lomita pocket. Located in the Los Angeles Unified School District, it represents a premier choice for Owner-Occupants seeking a house-hack or Buy-and-Hold Investors targeting a stabilized, low-maintenance asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2016 248th Street Subject | $998,000* List Price | 3 | 2 | 1,800 | $558 | - |
A 1757 252nd Active | $1,075,000 List Price | 0 | 0 | 1,902 | $565 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1925, the property has undergone a comprehensive recent renovation (likely <5 years) including new kitchens with stainless steel appliances, updated bathrooms, new flooring, and a new roof. The interior is in mint condition and move-in ready.
Both units have been extensively updated with new roofs, kitchens, bathrooms, flooring, and appliances, significantly reducing immediate capital expenditure requirements for a new owner.
The property offers a clear path to increased yield through the repositioning of Unit 2 to market rent and the potential to add an ADU to maximize the lot's income density.
Each unit includes rare amenities for the price point, such as private yards with mature fruit trees, defined living/dining areas, and essential in-unit washer/dryer hookups.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1800, other record living area = 1680.
Originally built in 1925 and relocated, the property's century-old bones may present underlying maintenance challenges or utility complexities common with vintage structures.
At 4,883 square feet, the lot may feel congested if an ADU is added, potentially compromising the private yard space and parking functionality that currently attracts premium tenants.
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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 0.0 | 83% |
| Baths | 2.0 | 0.0 | 83% |
| Square foot | 1,800 | 1,912 | 50% |
| Lot Size | 4,883 | 5,947.5 | 33% |
| Price | $998.0K | $1.01M | 50% |
| Price per sq ft | $554 | $530 | 50% |
| Built year | 1925 | 1935 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 2 | 236 | 17% |
Apr 20, 2026
$998,000
Initial Listing
Jan 25, 2022
$735,000
Public Record
May 29, 1997
$120,000
Public Record