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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.
Property Type(s):
Residential Income
| Last Updated | 11/1/2024 | Year Built | 1959 |
|---|---|---|---|
| Community | N Torrance - East | County | Los Angeles |
Price History
| Prior to Nov 1, '24 | $5,750,000 |
|---|---|
| Nov 1, '24 - Today | $5,600,000 |
Additional Details
| AREA | N Torrance - East |
|---|---|
| GARAGE | Covered |
| LOT | 0.46 acre(s) |
| PARKING | Covered |
| STORIES | 2 |
| ZONING | TORR-MD |
Location
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Listed with Shield CRE, Inc.
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