16910-16924 Crenshaw BlvdTorrance, CA 90504

Property Details for 16910-16924 Crenshaw Blvd

Year built

1959

Property size (Sq ft)

12,952 SF

Property type

Apartment buildings

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.

Location Insight

City

Torrance

County

Los Angeles

State

California

Latitude

33.8769

Longitude

-118.326

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