1541 W 224th Street
Torrance, CA 90501
Listing broker / agent: ClearThink Homes · Gilbert Gutierrez · 7147945278 · CRMLS
MLS # PW26112441 · Last checked Oct 19, 2026 08:28 UTC
About this property
PACKAGE SALE — Both properties must close concurrently. 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.
Property details
- MLS number
- PW26112441
- Status
- Active
- Type
- Residential Income
- Subtype
- Triplex
- Lot size
- 0.1653 acres
- County
- Los Angeles
- Year built
- 1961
- Stories
- 1
More property detailsCollapse
Listing
- Days on market
- 73
Building
- Year built
- 1961
- Year built source
- Assessor
- Architectural style
- Cottage
- Stories
- 1
- Building stories
- 1
- Levels
- One
- Entry level
- 1
- Construction
- Stucco, Wood Siding
- Roof
- Shingle
Rooms & interior
- Rooms
- Bedroom, Kitchen, Laundry, Living Room, Primary Bedroom
- Appliances
- Dishwasher, Disposal, Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Range Hood, Self Cleaning Oven, Vented Exhaust Fan, Water Heater, Dryer, Washer
- Interior features
- Ceiling Fans, Quartz Counters, All Bedrooms Down, Main Level Primary
- Flooring
- Vinyl
- Heating
- Combination, Wall Furnace
- Cooling
- Dual
- Fireplace
- None
- Laundry
- Washer Hookup, Gas Dryer Hookup, Inside, In Kitchen, Stacked
- Accessibility features
- Parking, Accessible Doors
Exterior & parking
- Total parking spaces
- 13
- Garage spaces
- 0
- Carport spaces
- 0
- Parking
- Assigned, Asphalt, Driveway, Gated, Paved, Side By Side
- Pool
- None
- Spa
- None
- Exterior features
- Awnings
- Lot features
- Zero To One Unit Acre
- Lot size source
- Assessor
- Fencing
- Wood
- Property outlook
- None
Utilities & community
- Water
- Public
- Sewer
- Public Sewer
- Utilities
- Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected
- Community features
- Curbs, Storm Drains, Street Lights, Sidewalks
Fees & lease terms
- Association
- No
- Association fee
- $0.00
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Meyler Street Elementary (school website, opens in a new tab) Los Angeles Unified · Torrance | K–5 | 0.6 mi |
| Halldale Elementary (school website, opens in a new tab) Los Angeles Unified · Torrance | K–5 | 0.7 mi |
| J. H. Hull Middle Torrance Unified · Torrance | 6–8 | 0.9 mi |
| Gene Drevno Community Day (school website, opens in a new tab) Torrance Unified · Torrance | 7–12 | 0.9 mi |
| Torrance Elementary Torrance Unified · Torrance | K–5 | 0.9 mi |
| Torrance High Torrance Unified · Torrance | 9–12 | 1.0 mi |
| Shery (Kurt T.) High (Continuation) Torrance Unified · Torrance | 9–12 | 1.1 mi |
| Stephen M. White Middle (school website, opens in a new tab) Los Angeles Unified · Carson | 6–8 | 1.1 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $899,888
- MLS-reported original asking price
- $950,000
- MLS-reported previous asking price
- $950,000
- MLS-reported last price change
- 2026-08-14 08:03 UTC
| Observed (UTC) | Asking price |
|---|---|
| Oct 2, 2026 08:48 | $899,888 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
Tax history is not available from the imported listing data.
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in Torrance
Active residential homes for sale in Torrance, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
25 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-19 09:18 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
Payment calculator
Explore a fixed-rate loan scenario. The price comes from this listing; a 20% down payment and 30-year term are starting assumptions, not requirements. Enter your own interest rate—not APR—and estimated costs.
Illustration only—not a rate quote, preapproval, lending offer or affordability determination. Assumes equal monthly payments on a fully amortizing fixed-rate loan; no adjustable rates, interest-only periods or balloon payments. Excludes closing costs, utilities, maintenance, special assessments and other unentered costs. Actual payments and escrow can differ. Review a Loan Estimate with your lender.
Understanding homeownership costs — CFPB ↗