2340 Lomita BlvdLomita, CA 90717

Property Details for 2340 Lomita Blvd

Year built

1913

Lot size

0.15 AC

Zone code

LOCG*

Property type

Land

Property subtype

Commercial land

APN

7376-011-018

APU

7376011018

Description

This exceptional 47,805 square foot commercial land parcel, located at 2340 Lomita Blvd in Lomita, California (zip code 90717), presents a compelling investment opportunity for developers. Priced at $7,900,000 ($167/SF), this fee-simple property boasts approximately 290 feet of frontage on Lomita Boulevard. Currently improved with an eight-unit apartment building (four units currently vacant) and a retail lawn mower shop, generating $7,170 in annual rental income from the apartments. The lawn mower shop will be vacated upon escrow closing. The property is zoned LOCG and LOR1, allowing for mixed-use development (potential buyers should verify zoning with the city). This prime location offers excellent proximity to Torrance Municipal Airport, Crossroad Shopping Center, and Torrance Memorial Medical Center. The property includes twelve parking spaces and comprises five Assessor's Parcel Numbers (APN): 7376-011-007, 008, 018, 019, and 032. Existing structures offer potential for immediate rental income or redevelopment, making this a versatile opportunity for both commercial and residential projects. This 1.1-acre site presents a unique chance to capitalize on a high-demand location and create a significant return on investment.

• Alternative Use

  Use

  Valuation

  Residential

  $2,362,970

  Hospitality

  $2,164,468

  Educational

  $1,800,812

  Medical

  $1,862,745

  Retail

  $2,801,263

Location Insight

City

Lomita

County

Los Angeles

State

California

Latitude

33.8038

Longitude

-118.324

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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