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Multifamily

2830 W 235th St

2830 W 235th St, Torrance, CA 90505

Listing Price: $6,599,000

Cap Rate
3.45%
Number of Units
15
Price/Unit
$439,933

Investment Overview

The South Bay's tried-and-true, 90505 rental submarket - highly sought-after for tenants AND investors for decades...for a reason: a suburban lifestyle, yet close to dining, retail AND the beach. With effective vacancy rates of 0%, and some of The South Bay's largest employers only blocks away, South Torrance deals perform seamlessly, year-in and year-out. This asset has the added appeal of unrealized upside of almost 20%. The units have been well-maintained and upgraded, as-needed, but a savvy investor can affect handsome increases in rent, with a more modern "finish" in the units. The subject property has a compelling unit mix, for this family-oriented submarket, of ALL 2 Bed units - 40% of which are 2 Bed/ 2.5 Bath Townhome-Style. And the building is over-parked, as well. (a potential profit center for a new Buyer?!) "Fair" pricing at just over $400,000/unit and $300/foot, with 100 bps of cap rate upside.

Investment Highlights

  • 15 units in prime South Bay location
  • Over 18K rentable sq ft on 1/2 an acre
  • Upside of almost 20%
  • Even more upside by separating the garage rents and/or leasing some to 3rd parties

Exclusively Listed By

Listing Price: $6,599,000

Cap Rate
3.45%
Number of Units
15
Price/Unit
$439,933

Investment Highlights

  • 15 units in prime South Bay location
  • Over 18K rentable sq ft on 1/2 an acre
  • Upside of almost 20%
  • Even more upside by separating the garage rents and/or leasing some to 3rd parties

Investment Overview

The South Bay's tried-and-true, 90505 rental submarket - highly sought-after for tenants AND investors for decades...for a reason: a suburban lifestyle, yet close to dining, retail AND the beach. With effective vacancy rates of 0%, and some of The South Bay's largest employers only blocks away, South Torrance deals perform seamlessly, year-in and year-out. This asset has the added appeal of unrealized upside of almost 20%. The units have been well-maintained and upgraded, as-needed, but a savvy investor can affect handsome increases in rent, with a more modern "finish" in the units. The subject property has a compelling unit mix, for this family-oriented submarket, of ALL 2 Bed units - 40% of which are 2 Bed/ 2.5 Bath Townhome-Style. And the building is over-parked, as well. (a potential profit center for a new Buyer?!) "Fair" pricing at just over $400,000/unit and $300/foot, with 100 bps of cap rate upside.

Exclusively Listed By

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