1514 W 205TH STREET, TORRANCE CA 90501
- 4,466 sq.ft.
- 7,005 sq.ft. lot
Great opportunity to own this high-yielding 7-unit investment property in the highly desirable South Bay rental market. The property is conveniently located close to two major freeways (the 110 and the 405). It's just 15 minutes to LAX and 10 minutes to the beaches, and just a few minutes to the popular shopping, dining, and entertainment destinations in Old Town Torrance. All the units have 2 bedrooms and 1 bathroom each and are individually metered for electricity and gas. There are 14 available parking spots on the premises, and a coin-operated on-site laundry owned by the owner and which generates an additional $1300 revenue annually. Actual combined monthly rent is $10,088. Rents are due for an annual increase of 4% but have not yet been increased due to COVID-19 restrictions. When increased, this will boost rental income even further. All units are fully occupied, and tenants are currently on a month-to-month lease. All tenants are paying. There are no Section 8 tenants. The building is in excellent condition. The owner spent over $80,000 last year on the City of LA parking lot earthquake retrofit. All but one of the units were upgraded in the past two years, and the roof was replaced only last year. Cap Rate is 4.5%, in line with the average Cap Rate for both Los Angeles city and the South Bay area of 4.5%. *TENANTS DO NOT KNOW THAT THE PROPERTY IS LISTED FOR SALE. PLEASE DO NOT DISTURB TENANTS.*
Listing Courtesy of Adeyanju Ajetunmobi, Berkshire Hathaway HomeServices California Properties
raj qsarCEO | Owner |
- cell 714.412.5019
- office 949.612.2535
Based on information from California Regional Multiple Listing Service, Inc. as of November 16, 2020. 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.