20414 Kenwood Ave - Apartments FOR SALE


Torrance, CA 90502
$975,000 USD
424-405-3826
20414 Kenwood Ave, Torrance, CA for Sale
$975,000 USD
Apartments - FOR SALE
1/18
null | 5.29% Cap Rate

20414 Kenwood Ave
Torrance, CA 90502


HIGHLIGHTS

  • Five-Unit Multifamily Asset With Major ADU Potential: A new investor may explore doubling unit count by constructing 5 one-bed ADU’s (buyer to verify)
  • Diverse Mix of All Single-Story Floor Plans: Three buildings with a mix of three studios, one one-bedroom, and one two-bed
  • Current Rents Offer Upside Potential: Capture 30 percent potential upside
  • Well-Maintained Asset: Buildings boast newer exterior siding, windows and doors
  • Strong Inland South Bay Rental Market: Easy access to beaches, retail, and freeways

OVERVIEW

Marcus & Millichap is pleased to present to market 20414 Kenwood Avenue, a five-unit multifamily asset in Torrance, California. This offering is an excellent acquisition opportunity for any investor seeking both short and long-term upside potential in the desirable inland South Bay rental market. Current rents present 30 percent rental upside, and the property’s underutilized corner lot may offer the potential to develop five one-bedroom ADU’s, effectively doubling the property’s unit count and massively growing income potential (buyer to verify). 20414 Kenwood Avenue currently consists of three single-story buildings with a diverse mix of three studios, one one-bed/one-bath and one two-bed/one-bath unit. The fenced lot features yard and patio space, as well as two parking spaces, and the rear section of the lot is undeveloped. The property has been well-maintained and boasts new siding, windows, and doors. A new investor could explore adding laundry facilities to further increase tenant demand and income potential. The property is located in the Harbor-Gateway area of Torrance and considered part of unincorporated Los Angeles County. This location is conveniently near freeways, major employers, and retailers, with easy access to beach cities; within just one mile tenants can access the 110 and 405 Freeways, Harbor-UCLA Medical Center (major employer), and Carson Towne Center. This area retains a strong tenant base, with an average household income within one mile over $107,000.

FOR SALE DETAILS

PRICE

$975,000 USD

PRICE/SF

$516 USD /SF

# OF UNITS

5

PRICE/UNIT

$195,000

CAP RATE

5.29%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

LCR2

APN/PARCEL ID

7350-013-035

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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