Skip To Content

16925 Prairie Avenue

Torrance, CA 90504
  • $7,054,000
  • STATUS: Active
  • ON SITE: 33 Days
  • ID#: 21100265
Price Reduced
UPDATED: 131 min ago
$7,054,000
  • 0
    BEDS
  • 0.35
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Listing provided courtesy of Manny Nunez Jd of Cb Richard Ellis, Inc.

Description

We are pleased to present present for sale, The Torrance 27, a unique 27-unit Investment opportunity located in the City of Torrance within the highly coveted and business friendly South Bay. 16925 Prairie is conveniently located minutes from Los Angeles' most beautiful beaches: 4.5 miles to Manhattan Beach, and 4 miles to Hermosa Beach. Torrance is one of LA County's most business-friendly cities, with top rated municipal services, no gross receipts tax, and more. Vacancies in the South Bay are on average below metro Los Angeles with a vacancy rate at 2.8%, well below the 4.3% average. Sales volume during the past year, $592M, is in line with historical averages. The local economy is driven by its long ties to the aerospace, automotive, and energy sectors. Average household income in The City of Torrance is $126,654. The Torrance 27 presents investors a unique opportunity to acquire an asset with an assumable Freddie Mac loan at 2.95% (Please contact Broker for more information). Further, 93% of the income is government subsidized creating a uniquely stable asset for any investors portfolio. We imagine a new investor may extract further value from the building by implementing RUBS and increasing NOI. The City of Torrance is not rent controlled which gives investors more freedom to grow NOI in a high demand rental market. Please contact listing agent for more details.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T21:29:04.5. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/122890054
Print Image

16925 Prairie Avenue Torrance, CA 90504

  • Price: $7,054,000
  • Status: Active
  • On Site: 33 Days
  • Updated: 131 min ago
  • ID#: 21100265
0
Beds
0
Baths
0
½ Baths
0.35
Acres
1964
Built
Neighborhood:
132 - N Torrance - West
County:
Los Angeles
Area:
132 - N Torrance - West
Property Description
We are pleased to present present for sale, The Torrance 27, a unique 27-unit Investment opportunity located in the City of Torrance within the highly coveted and business friendly South Bay. 16925 Prairie is conveniently located minutes from Los Angeles' most beautiful beaches: 4.5 miles to Manhattan Beach, and 4 miles to Hermosa Beach. Torrance is one of LA County's most business-friendly cities, with top rated municipal services, no gross receipts tax, and more. Vacancies in the South Bay are on average below metro Los Angeles with a vacancy rate at 2.8%, well below the 4.3% average. Sales volume during the past year, $592M, is in line with historical averages. The local economy is driven by its long ties to the aerospace, automotive, and energy sectors. Average household income in The City of Torrance is $126,654. The Torrance 27 presents investors a unique opportunity to acquire an asset with an assumable Freddie Mac loan at 2.95% (Please contact Broker for more information). Further, 93% of the income is government subsidized creating a uniquely stable asset for any investors portfolio. We imagine a new investor may extract further value from the building by implementing RUBS and increasing NOI. The City of Torrance is not rent controlled which gives investors more freedom to grow NOI in a high demand rental market. Please contact listing agent for more details.
Exterior Features

Construction Materials Stucco Parking Features Controlled EntrancePrivate Parking Total 27 Roof CompositionShingle

Interior Features

Cooling None Cooling YN No Flooring Laminate Heating Wall Furnace Heating YN Yes

Property Features

Association Fee 0 Community Features Gated Gross Income 545660 Laundry Features Common Area Listing Agreement Seller Reserved Listing Service Full Service Listing Terms Freddie Mac Net Operating Income 357030 New Construction YN No Property Condition Updated/Remodeled Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Tocc-Gen



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T21:29:04.5. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_367495473-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_367495473-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_367495473-1.jpg
Logo
The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing provided courtesy of Manny Nunez Jd of Cb Richard Ellis, Inc.