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$4,400,000
Est. payment /mo
0.4 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25162583
HOA Y/N No
Year Built 1961
Lot Size 0.400 Acres
Property Sub-Type Apartment
Property Description
This is a multifamily property consist of 18 units, centrally located in a prime area near Torrance City Hall, Del Amo Mall, and the Torrance Financial District. The property is located in a desirable residential neighborhood, with surrounding streets lined with well-maintained family residences and multifamily properties, adding to the overall appeal and long-term investment stability of the area. The property features carport parking and a large parking area, providing convenience for residents. There is a tremendous value-add opportunity for investors to renovate the units and bring rental rates to market levels, creating the potential to accelerate appreciation and increase cash flow in this high-demand location.A strategic opportunity for portfolio growth through a value-add multifamily asset. The unit mix consists of 5 studios, 12 one-bedroom units, and 1 two-bedroom unit. In addition, the building features leased laundry machines conveniently located on the first floor, offering residents easy access to laundry facilities while providing supplemental income to ownership and contributing to increased net operating income (NOI). By upgrading and renting the units at market rates, along with implementing operational improvements like laundry income, investors will improve the property's NOI, resulting in a higher capitalization rate (cap rate) and increased property valuation over time.
Location
State CA
County Los Angeles
Area 131 - West Torrance
Zoning TORR-MH
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 18.0
Garage Description 18.0
Pool None
Community Features Sidewalks
Total Parking Spaces 18
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community Yes
Tax ID 7524026018
Energy Description 9396.0
Acceptable Financing Contract
Listing Terms Contract
Special Listing Condition Standard
Lease Land No
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Listed by Edgard Asensio Asensio Property Management Inc asensiomngt@aol.com