16910 Crenshaw Boulevard
Torrance, CA 90504
12952 sqft | 7 beds | 0.46 acres | #24436973
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.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$5,750,000
- MLS #24436973
- MLS #24436973
- Cost5600000
- Acres0.4551
- Square Feet12952
- Year Built1959
- Bedrooms7
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Gianluca Jacoli (#CLW-C122805)
Listing Office: Shield CRE, Inc. (#CLW-X82383)
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