1622 Gramercy Avenue, Torrance, CA 90501

$6,900,000
List Price
$6,900,000
Status
ACTIVE
MLS#
SB22141000
Year Built
2010
Lot Size
11,069
Acres
0.2541
Days on Market
45
Property Type
Multifamily
Property Sub Type
Condominium
Stories
Three Or More Levels

Property Description

Excellent and unique opportunity in downtown Torrance. Mixed-use building - 7 residential townhomes, 1 commercial suite, 7 two car garages, optional: can be converted to ADUs. This property has 8 separate deeds with separate APNs, updated budgets and bylaws and CC&Rs. 5 of the units are currently vacant. Market rents average $4,750 per unit; over $400,000 per year income. Property is priced at approximately 4.9 cap. Property has been completely upgraded throughout. Commercial tenant at ground floor has two years left on lease. The commercial suite comes with sign rights and permissible uses for office, medical, restaurants, and animal services. This building is a perfect investment opportunity to buy 8 separate units in bulk under market and receive over a 4% cash on cash return. The owner of the property has the individual units on the market, but will give serious consideration to a bulk sale transaction.

Additional Information

Pool Description
None
Garage Spaces Total
14
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
8
Gross Scheduled Income
$468,000
Operating Expense
113548

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Listing Agent: Dean Thomas from Listing Office: E Real Estate Corp.

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.