# 1535 W 224th Street, Torrance, CA 90501

> **TL;DR:** 4bd/2ba multi-family, $799,888, built 1961.
> A/C. Est. $4,278/mo. Listed 162 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $799,888 |
| Bedrooms | 4 |
| Bathrooms | 2 full |
| Year Built | 1961 |
| Lot Size | 7,200 sqft (0.17 acres) |
| Stories | 1 |
| Property Type | Multi-Family (Duplex) |
| Status | Active |
| Days on Market | 162 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $4,045 |
| Estimated Insurance | $233 |
| **Total** | **$4,278** |

## Key Amenities

- A/C

## Property Highlights

- Built in 1961
- 0.17 acre lot
- 13 parking spaces

## Description

### Agent Description
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.

## Location

- **Address:** 1535 W 224th Street, Torrance, CA 90501
- **County:** Los Angeles

## Listing Agent

- **Name:** Gilbert Gutierrez · **License:** 02022002
- **Brokerage:** ClearThink Homes
- **Broker Phone:** (714) 794-5278

## Photos

![1535 W 224th Street - Photo 1](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f2758643545r.jpg)

![1535 W 224th Street - Photo 2](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f1715999723r.jpg)

![1535 W 224th Street - Photo 3](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f3248888055r.jpg)

![1535 W 224th Street - Photo 4](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f2164694920r.jpg)

![1535 W 224th Street - Photo 5](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f2750831331r.jpg)

![1535 W 224th Street - Photo 6](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f1986373742r.jpg)

![1535 W 224th Street - Photo 7](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f711393908r.jpg)

![1535 W 224th Street - Photo 8](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f2525819569r.jpg)

![1535 W 224th Street - Photo 9](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f513829162r.jpg)

![1535 W 224th Street - Photo 10](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f1535213477r.jpg)

![1535 W 224th Street - Photo 11](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f3303667050r.jpg)

![1535 W 224th Street - Photo 12](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f618883632r.jpg)

![1535 W 224th Street - Photo 13](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f850060384r.jpg)

![1535 W 224th Street - Photo 14](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f3907407848r.jpg)

![1535 W 224th Street - Photo 15](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f2709558090r.jpg)

![1535 W 224th Street - Photo 16](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f2831972691r.jpg)

![1535 W 224th Street - Photo 17](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f697514745r.jpg)

![1535 W 224th Street - Photo 18](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f2457553781r.jpg)

![1535 W 224th Street - Photo 19](http://lh.rdcpix.com/f07df0ca1d19357f3e6856457ebf369bl-f3293604692r.jpg)

---

**MLS#:** PW26108833 | **Updated:** 2026-10-28
**Source:** listhub

*Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.ai/listing/1535-w-224th-street-torrance-ca-90501-4a93e86ebd7e4e3ca952d75aa44ae7a4)

---

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