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Key Details
Sold Price $5,310,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 16,464 sqft
Price per Sqft $322
MLS Listing ID CRPW24103226
Sold Date 11/07/24
HOA Y/N No
Year Built 1964
Lot Size 0.500 Acres
Acres 0.5
Property Description
We are pleased to present a 15 unit apartment community located at 2758 Orange Avenue in Torrance CA. Situated in Old Town, the subject property is proximate to many dining and entertainment options, and located on a quiet residential street. Current ownership has held this property for over 20 years and has maintained it particularly well including window roof and electric upgrades. Every subpanel has been upgraded in the units. 2758 Orange Avenue is an all electric building that benefits from a rare unit mix of mostly townhome style, two-story, condo quality floorplans. Amenities include oven range, large windows, vinyl plank flooring, and modern paint. The property also has ample parking, on-site laundry, private patios, and controlled gated access. Additionally a buyer has the opportunity to add up to 5 ADUs onsite. Priced attractively at over a 5.8% cap rate, and 11.43 GRM, the strong current cash flow with significant upside in NOI provides a rare value-add opportunity in a highly sought after submarket of the South Bay.
Location
State CA
County Los Angeles
Area Listing
Zoning TORR
Interior
Heating Electric
Cooling Wall/Window Unit(s)
Flooring Tile, Vinyl, Carpet
Fireplace No
Appliance Gas Water Heater
Laundry Other
Building
Lot Description Front Yard
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 7359013019
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with BenjaminLester