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1535 W 224th Street
Duplex 
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1535 W 224th Street 
$799,888
Offered at
Torrance, CA 90501
Los Angeles County
4
Beds
2
Baths
1,596
Sq Ft
7,200
Lot Sq Ft
1961
Year Built
PACKAGE SALE — Both properties must close concurrently. 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…
PACKAGE SALE — Both properties must close concurrently. 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.
Facts & Features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Cooling
- Cooling: Dual
Appliances
- Included: Dishwasher, Disposal, Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Range Hood, Self Cleaning Oven, Vented Exhaust Fan, Water Heater, Dryer, Washer
- Laundry: Washer Hookup, In Kitchen, Stacked
Features
- Flooring: Vinyl
- Has fireplace: No
Interior area
- Total interior livable area: 1,596 sqft
Property
Parking
- Total spaces: 13
- Parking features: Assigned, Asphalt, Driveway, Paved, Private, Side By Side, Uncovered
- Garage spaces: 0
Features
- Stories: 1
- Has private pool: No
- Fencing: Wood
- Has view: No
Lot
- Size: 0.17 Acres
- Features: Zero To One Unit Acre
Details
- Parcel number: 7347002030
- Zoning: LARD2
Construction
Type & style
- Home type: Residential
- Architectural style: Cottage
- Property subtype: Duplex
Materials
- Stucco, Wood Siding
- Roof: Shingle
Condition
- Year built: 1961
Location
Mike Zwarg
Broker / Owner
951-528-0626
mike@mzhomes.us
mike@mzhomes.us
Listing Office: ClearThink Homes · Listing Agent: Gilbert Gutierrez · 7147945278 · CRMLS
The property listing information on this website comes in part from the California Regional Multiple Listing Service (CRMLS) via Internet Data Exchange (IDX). Information is deemed reliable but is not guaranteed accurate by the MLS, and all properties are subject to prior sale, change, or withdrawal. This data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than identifying properties consumers may be interested in purchasing. Buyers should independently verify all information, including square footage, lot size, schools, and property condition.
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1535 W 224th Street, Torrance, CA 90501
951-528-0626
mike@mzhomes.us
mzhomes.us
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