$ 1,500,000
20414 Kenwood AVE Torrance, CA 90502
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$ 1,500,000
Est. payment | /mo
7,644 Sqft Lot
$ 1,500,000
Est. payment | /mo
7,644 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24393547
HOA Y/N No
Year Built 1925
Lot Size 7,644 Sqft
Property Description
20414 Kenwood is an exciting opportunity to invest in a 5 unit multifamily in the beautiful South Bay city of Torrance, priced at only $300,000 per door for recently updated units. The property has a current 4.04% cap rate, but rents are below market and there is potentially room to add more units for even more upside! The property offers long-term value as many lower income areas in the South Bay are rapidly gentrifying. All apartments have been lightly updated, and tenants are stable and largely maintenance free. Units 2 & 4 have laundry hookups, Units 3 & 5 can be set up, and unit 1 does not have any laundry hookups at all. There is a back area that can be converted to additional units and more tenant services. Please verify all zoning and permitting with the city if you plan on adding units or renovating. This property has loads of upside potential or can possibly be used as an owner occupied residence while your tenants help yo pay off the property!!! The property is just minutes from the 405 and the 110. Also a very drivable distances to Long Beach and LAX. The property is minutes away from Harbor UCLA Medical Center, Victoria Golf Course, Walmart, Starbucks, many grocery stores, and several commercial and major industrial business centers. Ideal for tenants looking for close proximity to workplaces in the neighborhood. Not many apartments come on sale in the neighborhood. Please DO NOT visit premises without setting up and appointment first with the listing agent and been prequalifed for a loan with proof of funds. This is an ABSOLUTE AS IS Sale. Please contact agent for rent roll, operating statements and questions!
Location
State CA
County Los Angeles
Area 123 - County Strip
Zoning LCR2*
Interior
Fireplace No
Building
Lot Description Corner Lot, Near Public Transit, Value In Land
Story 1
Others
Tax ID 7350013035
Financing Cash,Conventional
Special Listing Condition Standard
Listed by Mark Wong • Cal Mutual Inc
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Kris Rainwaters
REALTOR® | Lic# 02111780