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1351 W 228th Street
Torrance, CA 90501

$3,550,000 
  • -- Beds
  • -- Baths
  • 11,701 sqft
  • Residential Income | Apartment
  • Pending Continue to Show
1351 W 228th Street, Torrance - 241965623
1351 W 228th Street, Torrance - 241965624
1351 W 228th Street, Torrance - 241965625
1351 W 228th Street, Torrance - 241965626
1351 W 228th Street, Torrance - 241965627
1351 W 228th Street, Torrance - 241965628

Property Description for 1351 W 228th Street, Torrance CA 90501

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.

  • Property Class: Residential Income
  • Listing Status: Pending Continue to Show
  • City: Torrance
  • State: CA
  • Zip: 90501
  • Area: 122 - Harbor Gateway
  • County: Los Angeles
  • Class: Residential Income
  • Property Subtype: Apartment
  • Approx Lot Size: 0.330
  • Stories: 2
  • Baths (F/H): -- / --
  • Baths Partial: 0
  • Living Area (SqFt): 11,701 sqft
  • Lot Sq Ft Apx: 14400.00
  • Year Built: 1986
  • Listing#: OC17055716
  • HOA Fee: 0.00
  • Parcel Number: 7347013037
  • List Date: 3/30/2017
  • Last updated on: 9/23/2017

Property Features for 1351 W 228th Street, Torrance CA 90501

  • Cooling: None
  • Heating: Wall Heater
  • Parking Features: Assigned, Unassigned, Carport Attached
  • Security Features: Automatic Gate, Resident Manager
  • Utilities Sewer: Sewer Paid
  • Year Built: 1986
  • Community Features: Sidewalks
  • Zoning: Lacm
  • View Description: None
  • Construction Material: Drywall Walls
  • Lot Desc: 16-20 Units/Acre, Lot-Level/Flat
  • Pool: None
  • Road: Paved

Additional Information for 1351 W 228th Street, Torrance CA 90501

  • Bedroom 2 Area: 800
  • Carport Y/N: Yes
  • Expenses: 89618.00
  • Fencing: Blockwall
  • Garage Style: Assigned, Unassigned, Carport Attached
  • Gross Building Area: 11701.00
  • Gross Income: 222202.00
  • Net Income: 132584.00
  • Rent Income: 190632.00
Courtesy of Brad Petersen, Pay It Forward Realty
Copyright 2017, California Regional Multiple Listing Service, Inc.. All Rights Reserved.
Based on information from California Regional Multiple Listing Service, Inc. 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.