3536 Garnet Street, Torrance, CA 90503
  • MLS#: SB25162583 ( Apartment )
  • Street Address: 3536 Garnet Street
  • Viewed: 4
  • Price: $4,400,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1961
  • Bldg sqft: 0
  • Days On Market: 6
  • Additional Information
  • County: LOS ANGELES
  • City: Torrance
  • Zipcode: 90503
  • Provided by: Asensio Property Management Inc
  • Contact: Edgard Edgard
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    This is a multifamily property consist of 18 units, centrally located in a prime area near Torrance City Hall, Del Amo Mall, and the Torrance Financial District. The property is located in a desirable residential neighborhood, with surrounding streets lined with well maintained family residences and multifamily properties, adding to the overall appeal and long term investment stability of the area. The property features carport parking and a large parking area, providing convenience for residents. There is a tremendous value add opportunity for investors to renovate the units and bring rental rates to market levels, creating the potential to accelerate appreciation and increase cash flow in this high demand location.A strategic opportunity for portfolio growth through a value add multifamily asset. The unit mix consists of 5 studios, 12 one bedroom units, and 1 two bedroom unit. In addition, the building features leased laundry machines conveniently located on the first floor, offering residents easy access to laundry facilities while providing supplemental income to ownership and contributing to increased net operating income (NOI). By upgrading and renting the units at market rates, along with implementing operational improvements like laundry income, investors will improve the property's NOI, resulting in a higher capitalization rate (cap rate) and increased property valuation over time.
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Features
Association Fee
  1. 0.00
Building Area Total
  1. 9449.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Country
  1. US
Electric Expense
  1. 15036.00
Entry Location
  1. Ground Level w/ Steps
Fuel Expense
  1. 9396.00
Garage Spaces
  1. 18.00
Insurance Expense
  1. 22560.00
Laundry Features
  1. Common Area
Levels
  1. Two
Lot Features
  1. 16-20 Units/Acre
Netoperatingincome
  1. 122148.00
Number Of Separate Electric Meters
  1. 19
Number Of Separate Gas Meters
  1. 19
Parcel Number
  1. 7524026018
Pool Features
  1. None
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 443393145:CRM
Tenant Pays
  1. Electricity
  2. Gas
Totalactualrent
  1. 15660.00
Totalexpenses
  1. 62040.00
Trash Expense
  1. 3768.00
Water Sewer Expense
  1. 11280.00
Water Source
  1. Public
Year Built
  1. 1961
Year Built Source
  1. Assessor
Zoning
  1. TORR-MH