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16925 Prairie Ave

Torrance, CA 90504
  • $7,054,000
  • STATUS: Active
  • ON SITE: 32 Days
  • MLS #: 21-100265
Price Reduced
UPDATED: 46 min ago
$7,054,000
  • 28
    BEDS
  • 0.35
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 10,626
    SQFT
  • $664
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Description

We are pleased to present present for sale, The Torrance 27, a unique 27-unit Investment opportunity located in the City of Torrance within the highly coveted and business friendly South Bay. 16925 Prairie is conveniently located minutes from Los Angeles' most beautiful beaches: 4.5 miles to Manhattan Beach, and 4 miles to Hermosa Beach. Torrance is one of LA County's most business-friendly cities, with top rated municipal services, no gross receipts tax, and more. Vacancies in the South Bay are on average below metro Los Angeles with a vacancy rate at 2.8%, well below the 4.3% average. Sales volume during the past year, $592M, is in line with historical averages. The local economy is driven by its long ties to the aerospace, automotive, and energy sectors. Average household income in The City of Torrance is $126,654. The Torrance 27 presents investors a unique opportunity to acquire an asset with an assumable Freddie Mac loan at 2.95% (Please contact Broker for more information). Further, 93% of the income is government subsidized creating a uniquely stable asset for any investors portfolio. We imagine a new investor may extract further value from the building by implementing RUBS and increasing NOI. The City of Torrance is not rent controlled which gives investors more freedom to grow NOI in a high demand rental market. Please contact listing agent for more details.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T15:42:57.52. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/122891258
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16925 Prairie Ave Torrance, CA 90504

  • Price: $7,054,000
  • Status: Active
  • On Site: 32 Days
  • Updated: 46 min ago
  • MLS #: 21-100265
28
Beds
0
Baths
0
½ Baths
0.35
Acres
10,626
SQFT
$664
$/SQFT
1964
Built
Neighborhood:
North Torrance West
County:
Los Angeles
Area:
North Torrance West
Property Description
We are pleased to present present for sale, The Torrance 27, a unique 27-unit Investment opportunity located in the City of Torrance within the highly coveted and business friendly South Bay. 16925 Prairie is conveniently located minutes from Los Angeles' most beautiful beaches: 4.5 miles to Manhattan Beach, and 4 miles to Hermosa Beach. Torrance is one of LA County's most business-friendly cities, with top rated municipal services, no gross receipts tax, and more. Vacancies in the South Bay are on average below metro Los Angeles with a vacancy rate at 2.8%, well below the 4.3% average. Sales volume during the past year, $592M, is in line with historical averages. The local economy is driven by its long ties to the aerospace, automotive, and energy sectors. Average household income in The City of Torrance is $126,654. The Torrance 27 presents investors a unique opportunity to acquire an asset with an assumable Freddie Mac loan at 2.95% (Please contact Broker for more information). Further, 93% of the income is government subsidized creating a uniquely stable asset for any investors portfolio. We imagine a new investor may extract further value from the building by implementing RUBS and increasing NOI. The City of Torrance is not rent controlled which gives investors more freedom to grow NOI in a high demand rental market. Please contact listing agent for more details.
Exterior Features

Exterior Construction Stucco Lot Size Area 15434 Other Structures Other Parking Garage Controlled EntrancePrivate Roof CompositionShingle Total Parking 27

Interior Features

Baths Total 27.00 Cooling None Equipment None Flooring Laminate Heating Wall Laundry CommunityLaundry Area Laundry Equipment Lease Water Heater Features Central Water Heater

Property Features

Assessed Total Value 5410080 Gross Income 545660 Gross Operating Income 526562 Like Units1 2 Like Units2 24 Like Units3 1 Net Operating Income 357030.00 Number Of Buildings 2 Number Of Units 27 Owner Pays ElectricityGasWater Property Condition Updated/Remodeled Sale Type Standard Security Features Gated Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 169532 Type Of Units Multifamily Year Built Source Vendor Enhanced Zoning Tocc-Gen

Listing provided courtesy of Manny Nunez Jd DRE#01990970 of Cb Richard Ellis, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T15:42:57.52. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210