8-unit residential apartment building in City of Torrance (not City of LA). ||| FINANCIALS ||| Gross scheduled income: $183,600. Gross rent multiplier: 16.3. 4.44% CAP at current rents. 10-20% upside potential with 5.3% proforma CAP. ||| PROPERTY DETAILS ||| 16 total beds and 16 total baths with 8,726 finished sq ft on a 10,961 sq ft flat lot. All units have 2 stories with stairs. The 6 front units have the kitchen, living room, patio, and 1/2 bath on the ground level, with 2 bedrooms, a private balcony and a full hall bath. The main level of the rear upper units have a kitchen, living room, oversized west-facing balcony, 1 bedroom, and full bath while the second level features a loft ensuite with a ¾ bath and private east-facing balcony. 11 total parking spaces: 8 covered, and 3 uncovered. All units have 1 assigned covered parking space with a lockable storage locker. The 3 uncovered parking spaces are unassigned. Locked shared coin-op laundry room at rear of lot. Units are all electric (no gas) with radiant heat in acoustic ceiling. ||| LOCATION ||| 1 block to Torrance Park (10-acre park with playground, covered picnic space, BBQs, plus athletic fields & courts). 12 minutes to the sand in Redondo Beach and Torrance Beach! 5 minutes to the 110 freeway. ¾ mile to downtown Old Torrance (charming, trendy, walkable downtown with restaurants, bars, and shopping). ¾ mile to the Torrance Farmers Market at Charles H Wilson Park (featuring tons of sports courts, recreation areas, and a walking path).
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Data last updated on 4/1/23 at 8:06 PM UTC