1440 W 224TH ST, Torrance, CA 90501, photo 1 of 5
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1440 W 224TH ST, Torrance, CA 90501, photo 2 of 5
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1440 W 224TH ST, Torrance, CA 90501, photo 5 of 5
Under Contract
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1440 W 224TH ST Torrance, CA 90501

$2,500,000

Listed By Jeffrey Louks, Marcus & Millichap

20

Bedrooms

10

Total Baths

Full Baths

8,564

Square Feet

0.41

Acres

1958

Year Built

Active Under Contract

Status

MLS#

22-197781

We are pleased to present 1440-1444 224th Street, a 10-unit value-add apartment building located in Torrance, California. The building consists of all two-bedroom/one-bathroom units. In addition, current ownership has submitted plans pending approval to construct two (2) two-bedroom/one-bathroom ADU's. The building features secured access on on-grade parking. Built in 1958, the combined building square footage is 8,564 which sits on a large 0.41 AC lot that is LARD2 zoned. This is a tremendous opportunity for a value-add investor as current rents are approximately 37% under market.1440-1444 224th Street is well located and features area attractions such as Normandale Recreation Center and Skate Park (one-half block away), Torrance County Beach (approximately 5 miles away), Harbor UCLA Medical Center (approximately 1.2 miles away), American Honda Motor Company (approximately 2.7 miles away) and Del Amo Fashion Center (approximately 2.8 miles away). The property is also conveniently located near the 110 and 405 freeways for quick access to Downtown LA, the Westside, Long Beach, Orange County and surrounding areas. Torrance is located in the South Bay region of the Los Angeles metropolitan area and has a population of roughly 150,000. Incorporated in 1921, the city has 1.5 miles of beachfront on the Pacific Ocean and consistently ranks among the safest cities in Los Angeles County. Torrance is considered one of the strongest rental submarkets in the South Bay as it is known for its stable workforce housing and historically low vacancy rates.

Details for 1440 W 224TH ST

Year Built
1958
Parking
No Info
Price / Sq Ft
$292
HOA
No Info
Cooling
Yes
Heating
Yes
On Website
94 Days
Acres
0.41

Price per square foot and days on website are not provided values and are calculated by RE/MAX.

Listing Office Marcus & Millichap, 818-212-2700

MLS# 22-197781

Updated 3:15AM - 12/10/2022

Listing Agent Jeffrey Louks, 818-212-2700

The multiple listings information is provided by The MLS/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2022 The MLS/CLAW. All Rights Reserved. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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