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$15,500,000
Est. payment /mo
5 Beds
4 Baths
1.03 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 OC26180225
Bedrooms 5
Lot Size 1.030 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
The Palms is a 48-unit multifamily investment opportunity located at 3929 West 242nd Street in Torrance, California. Built in 1961, the property sits on a 1.03-acre lot and features approximately 36,096 net rentable square feet, with apartment buildings arranged around spacious interior courtyard areas. The Palms features a garden-style layout, with apartment buildings oriented around interior courtyards that provide residents with shared outdoor space. The site also accommodates common area circulation, resident amenities, and a substantial covered parking component within the propertys 1.03-acre footprint. The unit mix consists of 38 one-bed/one-bath units, 6 two-bed/one-bath units, and 4 two-bed/two-bath units. This composition provides a strong base of one-bedroom floor plans while also including a selection of larger two-bedroom units. Current ownership has extensively renovated 8 units with luxurious finishes. The property features a swimming pool, clubhouse, gated access, two on-site laundry facilities, and covered parking. Parking is provided through 45 tuck-under spaces, 2 surface spaces, one single-car garage, and one double-car garage, giving The Palms a substantial covered parking component relative to its unit count. Overall, The Palms represents an established Torrance multifamily asset with scale, a predominantly onebedroom unit mix, courtyard-style design, on-site amenities, gated access, and covered parking.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Cross Streets of West 242nd Street & Ocean Avenue
Interior
Fireplace No
Exterior
Pool Community/Common
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7534006020
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
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Listed by Tyler Leeson, DRE#01451551 Marcus & Millichap RE Invest
Nearby School & Business
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