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2758 Orange AVE Torrance, CA 90501
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Key Details
Sold Price $5,310,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRPW24103226
Sold Date 11/07/24
Originating Board California Regional MLS
Year Built 1964
Lot Size 0.500 Acres
Property Description
We are pleased to present a 15 unit apartment community located at 2758 Orange Avenue in Torrance CA. Situated in Old Town, the subject property is proximate to many dining and entertainment options, and located on a quiet residential street. Current ownership has held this property for over 20 years and has maintained it particularly well including window roof and electric upgrades. Every subpanel has been upgraded in the units. 2758 Orange Avenue is an all electric building that benefits from a rare unit mix of mostly townhome style, two-story, condo quality floorplans. Amenities include oven range, large windows, vinyl plank flooring, and modern paint. The property also has ample parking, on-site laundry, private patios, and controlled gated access. Additionally a buyer has the opportunity to add up to 5 ADUs onsite. Priced attractively at over a 5.8% cap rate, and 11.43 GRM, the strong current cash flow with significant upside in NOI provides a rare value-add opportunity in a highly sought after submarket of the South Bay.
Location
State CA
County Los Angeles
Area 134 - Old Torrance
Rooms
Kitchen Dishwasher, Other, Oven Range - Electric
Interior
Heating Electric
Cooling Window / Wall Unit
Laundry Laundry Area
Exterior
Garage Carport , Detached Garage, Gate / Door Opener, Other
Garage Spaces 15.0
Pool 31, None
Building
Water District - Public
Others
Tax ID 7359013019
Special Listing Condition Not Applicable
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Bought with Benjamin Lester