Price
$ 3,550,000

1351 W 228th Street, Torrance, CA 90501  

1351 W 228th Street, Torrance, CA 90501  

5.54% Pro Forma CAP Rate!! Property sits on a 14,400 SF double lot. Current rents are over 30% below market. OM, rent roll and income statement are attached in the supplements. Average CAP rate sold in area is 4.45%. Come see this well maintained 17 unit, NO RENT CONTROL, multifamily apartment building located in the high demand area of Harbor Gateway in the Torrance PO. Built in 1986 with a mix of 1 studio, 9 single bedroom units, 5 2 bedroom / 1.5 baths and 2 2 bedroom / 1 bath units. This well maintained garden property features an onsite laundry facility, security gate, gated courtyard and ample parking (10 covered spaces and 18 open spaces). The units are individually metered for gas and electricity. Gas wall heaters and gas stoves are provided for each unit. The roof was replaced in 3 phases between 2012 and 2015. Entire building was painted in 2016. Full cooper plumbing. No A/C.

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Listing Type
Multi-Family
Listing ID
OC17055716
Lot Size
0.33 acres
Listing Status
Active
Year Built
1986
County
Los Angeles
Floors
2
Units
17
Zoning
LACM
TaxID
7347013037
Listing courtesy of Brad Petersen~Pay It Forward Realty
Price History
Get price alerts on price change
Date Event Change Price
8/3/2017 Price change $-145,000 (-3.9%) $3,550,000
6/23/2017 Price change $-105,000 (-2.8%) $3,695,000
Houses for Sale Nearby
    Listing Information Provided By:
    RE/MAX ESTATE PROPERTIES
    2601 Pacific Coast Hwy Hermosa Beach, CA 90254 | Phone: (310) 937-3200
    RE/MAX ESTATE PROPERTIES is licensed in the state of California CalBRE License #: 01879720
    EACH OFFICE INDEPENDENTLY OWNED AND OPERATED.