16910-16924 Crenshaw BlvdTorrance, CA 90504

  • Residential income properties
  • 12,952 SF
For Sale
$5,600,000 View listing

Property Details for 16910-16924 Crenshaw Blvd

Year built
1959
Property size (Sq ft)
12,952 SF
Property type
Residential income properties
Property subtype
Multifamily properties

Description

This exceptional 29-unit apartment building in Torrance, CA presents a compelling investment opportunity. Situated on a large 19,824 square foot corner lot, this property boasts 12,952 square feet of living space spread across two, two-story buildings. The unit mix includes two 2-bedroom/1-bathroom, three 1-bedroom/1-bathroom, fifteen studio/1-bathroom, and nine bachelor/1-bathroom units. Each unit features an individual hot water heater, and the buildings are all-electric. Amenities include a courtyard with a pool, 29 parking spaces, and an on-site laundry facility with two washers and two dryers. One building has a newer roof. The property is zoned TORR-MD and is not subject to Los Angeles Rent Control, instead falling under AB-1482. Currently operating at 96.5% occupancy, the property generates a Net Operating Income (NOI) of $318,913, representing a 5.69% cap rate. Pro-forma projections indicate a NOI of $446,245 and a 7.97% cap rate. The asking price is $5,600,000, or $193,103 per unit. The property consists of two adjacent parcels, each with its own Assessor Parcel Number (APN: 4093-016-031 & 4093-016-042). This offering presents a strong value proposition with significant upside potential. All information should be independently verified.

16910-16924 Crenshaw Blvd, Torrance, California

Location Insight

City
Torrance
County
Los Angeles
State
California
Latitude
33.8769
Longitude
-118.326

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].