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$5,600,000
Est. payment /mo
7 Beds
29 Baths
12,952 SqFt
UPDATED:
12/05/2024 04:35 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,952 sqft
Price per Sqft $432
MLS Listing ID 24436973
Bedrooms 7
HOA Y/N No
Year Built 1959
Lot Size 0.455 Acres
Property Description
Price reduced by $150,000! Luca is proud to present this 29-unit investment opportunity in Torrance. The property is situated in an outstanding Torrance location and is NOT subject to LA Rent Control and instead falls under AB-1482. The asset has a unit mix of (2) 2-bedroom/1-bathroom units, (3) 1-bedroom/1-bathroom units, (15) studio/1-bathroom units and (9) bachelor/1-bathroom units. The property is situated on two separate, adjacent parcels - each lot with its own assessor parcel number (APN). The offering is priced at only $193,103 per unit. The property features a total of 12,952-SF of living area and is situated on a large 19,824-SF corner lot.The asset is being offered at a 5.69% current cap rate and 11.67 current GRM with upside to a 7.97% pro-forma cap rate. Each unit has individual hot water heaters and both buildings are all electric. 16924 Crenshaw has a newer roof. Furthermore, there is a courtyard area with a pool, 29 parking spaces, and an on-site laundry facility with two washers and two dryers.
Location
State CA
County Los Angeles
Area 133 - N Torrance - East
Zoning TORR-MD
Interior
Fireplace No
Laundry Laundry Room
Exterior
Parking Features Covered
Total Parking Spaces 29
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4093016042
Special Listing Condition Standard
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Listed by Gianluca Jacoli • Shield CRE, Inc.