1351 W 228th Street, Torrance Property Listing: MLS® #OC17055716 For Sale - ISellSouthBay.com

5.54% Pro Forma CAP Rate!! Property sits on a 14,400 SF double lot. Current rents are over 30% below market. OM, rent roll and income statement are attached in the supplements. Average CAP rate sold in area is 4.45%. Come see this well maintained 17 unit, NO RENT CONTROL, multifamily apartment building located in the high demand area of Harbor Gateway in the Torrance PO. Built in 1986 with a mix of 1 studio, 9 single bedroom units, 5 2 bedroom / 1.5 baths and 2 2 bedroom / 1 bath units. This well maintained garden property features an onsite laundry facility, security gate, gated courtyard and ample parking (10 covered spaces and 18 open spaces). The units are individually metered for gas and electricity. Gas wall heaters and gas stoves are provided for each unit. The roof was replaced in 3 phases between 2012 and 2015. Entire building was painted in 2016. Full cooper plumbing. No A/C. 1351 W 228th Street Torrance 11701

1351 W 228th Street, Torrance Property Listing: MLS® #OC17055716 For Sale - ISellSouthBay.com Close
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  • Price$3,550,000
  • Sq. Ft.11,701
  • Acres0.33
  • Built1986

1351 W 228th Street, Torrance

5.54% Pro Forma CAP Rate!! Property sits on a 14,400 SF double lot. Current rents are over 30% below market. OM, rent roll and income statement are attached in the supplements. Average CAP rate sold in area is 4.45%. Come see this well maintained 17 unit, NO RENT CONTROL, multifamily apartment building located in the high demand area of Harbor Gateway in the Torrance PO. Built in 1986 with a mix of 1 studio, 9 single bedroom units, 5 2 bedroom / 1.5 baths and 2 2 bedroom / 1 bath units. This well maintained garden property features an onsite laundry facility, security gate, gated courtyard and ample parking (10 covered spaces and 18 open spaces). The units are individually metered for gas and electricity. Gas wall heaters and gas stoves are provided for each unit. The roof was replaced in 3 phases between 2012 and 2015. Entire building was painted in 2016. Full cooper plumbing. No A/C.

Essential Information

  • MLS® #OC17055716
  • Price$3,550,000
  • HOA Fees$0
  • Additional HOA Fees$0
  • Square Footage11,701
  • Acres0.33
  • Year Built1986
  • TypeResidential Income
  • StatusActive

Amenities

  • Parking Spaces28

Exterior

  • Lot Description16-20 Units/Acre, Lot-Level/Flat

Listing Details

  • Listing AgentBrad Petersen(01724042)
  • Listing OfficePay It Forward Realty

Community Information

  • Address1351 W 228th Street
  • AreaHarbor Gateway (122)
  • CityTorrance
  • CountyLos Angeles
  • StateCA
  • Zip Code90501

Interior

  • HeatingWall Heater
  • CoolingNone
  • # of Stories2
  • StoriesTwo

Additional Information

  • Date ListedMarch 30th, 2017
  • Days on Market135
  • ZoningLACM
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Based on information from California Regional Multiple Listing Service, Inc. as of August 20th, 2017 at 3:55pm PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.