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    1605 W 208th Street

    Torrance, CA 90501
    • $999,000
    • STATUS: Active Under Contract
    • ON SITE: 37 days
    • ID#: SB20163476
    Under Contract
    UPDATED: 64 min ago
    $999,000
    • 0
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,568
      SQFT
    • $280
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1952
    County:

    School Ratings & Info

    Description

    Well located 5 unit apartment building in the Torrance P.O. submarket with a great unit mix of 4 one bedroom one bath units and 1 two bedroom one bath unit. A one bedroom unit was rented for $1,495 recently, and all other 1 bedrooms in the building are at or below $900 providing over 50% upside when those units turn over! The 2 bedroom unit is also below market by 50% as it is currently rented at $1,110 per month. The units are separately metered for gas and electric utilities which the tenants pay directly, and there is a laundry room on site. This property is NOT subject to the Los Angeles Soft Story Refrofit Ordinance as it only has surface parking. Priced to sell at less than $200,000 per unit, the property just needs some basic TLC in the way of sprucing up, new landscaping and exterior paint to bring out the curb appeal of this 1950's building.The property is located just one block from the intersection of Torrance Blvd and Western Avenue. Great rental pocket with close proximity to major employers including American Honda Headquarters which is 1 mile away and Old Town Torrance with its restaurants and shops which is also within 1 mile. Ralphs Grocery Store and Lowes are within 1.5 miles, and the 110 and 405 Freeways are easily accessible and are less than 2 miles away.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-19T10:25:53.437. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Better Homes and Gardens Real Estate Vogler Feigen. Licensed in the State of California, USA.

    www.sonyathebroker.com/homes/108808355
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    1605 W 208th Street Torrance, CA 90501

    • Price: $999,000
    • Status: Active Under Contract
    • Updated: 64 min ago
    • ID#: SB20163476
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    3,568
    SQFT
    $280
    $/SQFT
    1952
    Built
    Neighborhood:
    122 - Harbor Gateway
    County:
    Los Angeles
    Area:
    122 - Harbor Gateway
    Property Description
    Well located 5 unit apartment building in the Torrance P.O. submarket with a great unit mix of 4 one bedroom one bath units and 1 two bedroom one bath unit. A one bedroom unit was rented for $1,495 recently, and all other 1 bedrooms in the building are at or below $900 providing over 50% upside when those units turn over! The 2 bedroom unit is also below market by 50% as it is currently rented at $1,110 per month. The units are separately metered for gas and electric utilities which the tenants pay directly, and there is a laundry room on site. This property is NOT subject to the Los Angeles Soft Story Refrofit Ordinance as it only has surface parking. Priced to sell at less than $200,000 per unit, the property just needs some basic TLC in the way of sprucing up, new landscaping and exterior paint to bring out the curb appeal of this 1950's building.The property is located just one block from the intersection of Torrance Blvd and Western Avenue. Great rental pocket with close proximity to major employers including American Honda Headquarters which is 1 mile away and Old Town Torrance with its restaurants and shops which is also within 1 mile. Ralphs Grocery Store and Lowes are within 1.5 miles, and the 110 and 405 Freeways are easily accessible and are less than 2 miles away.
    Exterior Features

    Garage Spaces 0.00 Lot Features Corner LotLawnLot 6500-9999Rectangular LotLevel Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Common Area Levels One

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.12 Community Features CurbsSidewalks Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 360.00 Gross Income 62784.00 Gross Multiplier 15.73 Gross Operating Income 62248.00 Gross Scheduled Income 62784.00 Insurance Expense 1250.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry Income 720.00 Laundry YN Yes Net Operating Income 41160.00 New Construction YN No New Taxes Expense 11728.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 5 Operating Expense 21088.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGas Total Actual Rent 5232.00 Total Expenses 21088.00 Trash Expense 1200.00 Vacancy Allowance 1256 Water Sewer Expense 2400.00 Water Source Public Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Stephen Lampe of Re/Max Commercial & Investment


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-19T10:25:53.437. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Better Homes and Gardens Real Estate Vogler Feigen. Licensed in the State of California, USA.

     
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