16925 Prairie Ave - Apartments FOR SALE


Torrance, CA 90504
$7,200,000 USD
626-315-7603
16925 Prairie Ave, Torrance, CA for Sale
$7,200,000 USD
Apartments - FOR SALE
1/8
null | 5.76% Cap Rate

16925 Prairie Ave
Torrance, CA 90504


HIGHLIGHTS

  • Prime City of Torrance Location - Not Subject to LA RSO or Any Local Rent Control
  • Strong In-Place CAP Rate at 5.76% with 10% Upside to Capture via Light Interior Renovations
  • Favorable Unit Mix for Property Location with Studios, 1-Bedroom, and 2-Bedroom Apartment Units
  • Community Amenities Include Grassy Courtyard, On-Site Secured Parking, Laundry Facility, and Secured Access
  • Adjacent to Alondra Park and El Camino College, and Walking Distance to Target, Starbucks, Chick-Fil-A, Raising Canes, and Several other Big Name Reta
  • Opportunity for Higher LTV Debt Options from Strong In-Place Cash Flow

OVERVIEW

SGV+ Multifamily of Compass Commercial Inc., is proud to present 16925 Prairie Ave – a heavy cash-flowing 29-unit multifamily complex located in the City of Torrance.  16925 Prairie Ave is located in the Northwest region of the City of Torrance adjacent to Alondra Park and all it’s community amenities. The property is conveniently located just off of the 405 freeway and Redondo Beach Blvd, surrounded by Single Family Homes with an average home sales price exceeding $850,000. Additionally, the property is walking distance to several convenience stores and benefits from its proximity to several big-name retailers like Target, Kohls, Ralphs, Total Wine, and Trader Joes to name a few. Tenants value being within reasonable commutes to major employers like LA International Airport, Ports of Long Beach, DTLA, and others in nearby areas.   The property offers 29 units, including 2 newly-constructed ADUs that have been leased out at market rate. The unit mix consists of 2, Studios, 24, one-bedrooms, and 3, two-bedroom apartments. Currently the property produces an outstanding annual income of over $643,000. The property has undergone a variety of recent capital improvements including a newly paved parking lot, a new room on 2 of the 3 buildings, electrical improvements, majority newer windows, renovated units, and more. Currently, the property collects just over $643,000 per year and requires less than 34% of the effective gross income for operating expenses. A new investor will recognize the benefit of the heavy-cashflow through the capability of leveraging higher LTV debt opportunities. Tenants enjoy a grassy open courtyard space, on-site gated parking, and access to multiple laundry facilities.

FOR SALE DETAILS

PRICE

$7,200,000 USD

PRICE/SF

$599 USD /SF

# OF UNITS

29

PRICE/UNIT

$248,276

CAP RATE

5.76%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

16925 Prairie Ave, Torrance | 29 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,434 SF

ZONING

TOCC-GEN

APN/PARCEL ID

4087-018-001

ASK ABOUT THIS PROPERTY

Justino Fa'aolaCOMPASSMore Info
626-315-7603

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Justino Fa'aolaCOMPASSMore Info
626-315-7603

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.