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$6,890,000
Est. payment /mo
3 Beds
3 Baths
0.35 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV26021669
Bedrooms 3
Lot Size 0.354 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
We are proud to present 16925 Prairie Ave a heavy cash-flowing 29-unit multifamily complex located in the City of Torrance. 16925 Prairie Ave is located in the Northwest region of the City of Torrance adjacent to Alondra Park and all its community amenities. The property is conveniently located just off of the 405 freeway and Redondo Beach Blvd, surrounded by Single Family Homes with an average home sales price exceeding $850,000. Additionally, the property is walking distance to several convenience stores and benefits from its proximity to several big-name retailers like Target, Kohls, Ralphs, Total Wine, and Trader Joes to name a few. Tenants value being within reasonable commutes to major employers like LA International Airport, Ports of Long Beach, DTLA, and others in nearby areas.The property offers 29 units, including 2 newly-constructed ADUs that have been leased out at market rate. The unit mix consists of 2, Studios, 24, one-bedrooms, and 3, two-bedroom apartments. Currently the property produces an outstanding annual income of over $643,000. The property has undergone a variety of recent capital improvements including a newly paved parking lot, a new room on 2 of the 3 buildings, electrical improvements, majority newer windows, renovated units, and more. A new investor will recognize the benefit of the heavy-cashflow through the capability of leveraging higher LTV debt opportunities. Tenants enjoy a grassy open courtyard space, on-site gated parking, and access to multiple laundry facilities.
Location
State CA
County Los Angeles
Community Horse Trails
Zoning Public Rec
Direction Corner of Prairie Ave and Redondo Beach Blvd
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Senior Community No
Tax ID 4087018001
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
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Listed by Justino Faaola, DRE#02038198 COMPASS
Nearby School & Business
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