1661 251st St, Harbor City, CA 90710

Property Description

Excellent investor/rehab opportunity. Comp across the street with less square footage, and rent control, just sold for 650k. This property has NO rent control. Legal duplex on record, currently being used as 3 units. Front unit owner's unit is not paying any rent. Rear small one bedroom pays $650 (friend of owner), other rear larger 1 bedroom rents for $1400. Front unit is 4 bedrooms, 2.5 baths, and in serious disrepair. Holes in walls, unfinished construction on the interior and exterior, definitely needs a contractor's touch to finish the work. Rear units are recently updated, with good tenants who pay on time (per seller) and would be happy to stay and are willing to renegotiate rents. Unknown if any of the construction started was done with permits. Unknown if third unit has permits or is up to code. Believed to have all been one larger unit at one point, but buyer and buyer's agent to verify all information. Located on a great block of Harbor City, with easy access to major employment hubs and freeways. Last property sold on the street was adjacent to a large apartment building, one door from busy Western Ave., had rent control, and sold for $650,000. This beautiful mid-block location with NO RENT CONTROL has tons of potential. CALLING ALL INVESTORS!