Multifamily

1573 Torrance Blvd

1573 Torrance Blvd, Torrance, CA 90501

Listing Price: $1,949,000

Cap Rate
4.25%
Number of Units
9
Price/Unit
$216,556
Price/Gross SF
$298.33
Gross SF
6,533

Investment Overview

Marcus & Millichap is pleased to present to market 1573 Torrance Boulevard, a nine-unit apartment building in Torrance, California. This offering presents an excellent opportunity to acquire an asset with a great unit mix in the desirable inland South Bay rental market and capture a major 46 percent potential upside in rents. 1573 Torrance Boulevard is a 1963 construction with six two-bedroom/one-bath and three one-bedroom/one-bath units that are separately metered for gas and electricity. Four of the units feature private balconies, one unit boasts a large private back patio, and one unit has tapped into a garage for additional living space. The property also offers on-site laundry and ample tuck-under and surface parking. Substantial recent improvements include a new roof, which is currently being installed and will be completed before close of escrow, a new main water heater, and recent interior upgrades. The property is located one block east of Western Avenue and offers convenient access to the 405 and 110 Freeways, both of which are a short four-minute drive away. The property is also just one mile from the popular dining, shopping, and entertainment options in Old Town Torrance. Investors should also take in consideration the opportunity this property offers to the possibility of building an accessory dwelling unit (ADU) addition (buyer to verify). An accessory dwelling unit (ADU) is a smaller, independent residential dwelling unit located on the same lot as a stand-alone (i.e., detached) residential building.

Investment Highlights

  • Great Opportunity to Acquire in the Strong Inland South Bay Rental Market and Capture a Major 46 Percent Rental Upside
  • Desirable Mix of Six Two-Bedroom and Three One-Bedroom Units
  • Amenities Include Patios/Balconies, On-Site Laundry, and Ample On-Site Parking
  • Installation of a Brand New Roof is Underway and Will Be Completed Before Close of Escrow

Exclusively Listed By

  • Steve Bogie Bogoyevac

    Senior Managing Director Investments

    (424) 405-3826

    Email Steve Bogie

    License(s): CA: 01332755

    South Bay

  • Izzy Sanchez

    First Vice President Investments

    Email Izzy

    License(s): CA: 01236591

    South Bay

Listing Price: $1,949,000

Cap Rate
4.25%
Number of Units
9
Price/Unit
$216,556
Price/Gross SF
$298.33
Gross SF
6,533

Investment Highlights

  • Great Opportunity to Acquire in the Strong Inland South Bay Rental Market and Capture a Major 46 Percent Rental Upside
  • Desirable Mix of Six Two-Bedroom and Three One-Bedroom Units
  • Amenities Include Patios/Balconies, On-Site Laundry, and Ample On-Site Parking
  • Installation of a Brand New Roof is Underway and Will Be Completed Before Close of Escrow

Investment Overview

Marcus & Millichap is pleased to present to market 1573 Torrance Boulevard, a nine-unit apartment building in Torrance, California. This offering presents an excellent opportunity to acquire an asset with a great unit mix in the desirable inland South Bay rental market and capture a major 46 percent potential upside in rents. 1573 Torrance Boulevard is a 1963 construction with six two-bedroom/one-bath and three one-bedroom/one-bath units that are separately metered for gas and electricity. Four of the units feature private balconies, one unit boasts a large private back patio, and one unit has tapped into a garage for additional living space. The property also offers on-site laundry and ample tuck-under and surface parking. Substantial recent improvements include a new roof, which is currently being installed and will be completed before close of escrow, a new main water heater, and recent interior upgrades. The property is located one block east of Western Avenue and offers convenient access to the 405 and 110 Freeways, both of which are a short four-minute drive away. The property is also just one mile from the popular dining, shopping, and entertainment options in Old Town Torrance. Investors should also take in consideration the opportunity this property offers to the possibility of building an accessory dwelling unit (ADU) addition (buyer to verify). An accessory dwelling unit (ADU) is a smaller, independent residential dwelling unit located on the same lot as a stand-alone (i.e., detached) residential building.

Exclusively Listed By

  • Steve Bogie Bogoyevac

    Senior Managing Director Investments

    (424) 405-3826

    Email Steve Bogie

    License(s): CA: 01332755

    South Bay

  • Izzy Sanchez

    First Vice President Investments

    Email Izzy

    License(s): CA: 01236591

    South Bay

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