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Property description
18 unit residential apartment building in prime Walteria/South Torrance area. Situated in a strong rental market, this well maintained building offers a mix of spacious 1 and 2 bedroom apartments with 1 studio and a bonus unit. -INCOME- Current gross scheduled income is $290, 352/year. However, pro forma/market rents could bring the Gross scheduled income conservatively to around $425, 000/year. -LAYOUT- Large 11, 738 sqft building on a 17, 440 sqft lot. 25 bedrooms in total with 19 bathrooms and a bonus, 450 sqft studio that is currently being used for storage. 9 (1 bedroom/1 Bath), 8 (2 bedrooms/1 Bath) and 1 (Studio). Total of 18 garage spaces; 8 covered garages w/ auto door openers and 10 covered garages. Co-Op shared laundry room w/ 2 washing machines and 2 dryers. Rent includes trash and water while tenants pay electrical, gas, cable, etc. Each unit comes with a stove. -SCHOOLS- Top rated school district in the country; 10/10 South High school, 9/10 elementary and middle schools. -MAINTENANCE/UPDATES- Exceptionally Maintained throughout the years w/ a new roof in 2020, new dual pane windows and gutters throughout (2017), new sprinklers covering the entire lot (2017), water heater (2017), most individual fuse boxes are less than 10 years old, and exterior painting of entire building was completed in 2017. -LOCATION- Groceries, shopping, restaurants all within a 1 mile radius, 6 min drive to the Hollywood Riviera in Redondo Beach, 7 mins to the Pacific Ocean, 5 min drive to the Palos Verdes Peninsula and 25 mins to LAX airport. Centrally located in the heart of highly distinguished Walteria/South Torrance area and a rare opportunity to own a generational, top tier property!
For more details:
Listed by: Brok Butcher
For more details:
Listed by: Brok Butcher