Listed by Dean Thomas, E Real Estate Corp.,

1622 Gramercy Avenue

Torrance, CA, 90501

$6,900,000

$460 per ft²
$6,900,000
$460 per ft²
Active
Active
 - For Sale
carpenters-square
14,980 ft²
property_type
Condo
calendar
Built 2010
Excellent and unique opportunity in downtown Torrance. Mixed-use building - 7 residential townhomes, 1 commercial suite, 7 two car garages, optional: can be converted to ADUs. This property has 8 separate deeds with separate APNs, updated budgets and bylaws and CC&Rs. 5 of the units are currently vacant. Market rents average $4,750 per unit; over $400,000 per year income. Property is priced at approximately 4.9 cap. Property has been completely upgraded throughout. Commercial tenant at ground floor has two years left on lease. The commercial suite comes with sign rights and permissible uses for office, medical, restaurants, and animal services. This building is a perfect investment opportunity to buy 8 separate units in bulk under market and receive over a 4% cash on cash return. The owner of the property has the individual units on the market, but will give serious consideration to a bulk sale transaction.
MLS® ID:
SB22141000
Listed:
6/29/22
Updated:
8/11/22
Vista | Sotheby's International Realty
Gerard Bisignano

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Laundry Closet

Exterior/Building Features

Lot Size
0.25 acres lot
Sewer
Public Sewer

Other Property Details

Area Name
134 - Old Torrance
HOA Amenities
Storm Drain(s), Street Lights, Suburban, Sidewalks
Garage
Yes
Garage Spaces
14
Parking
Y
Parking Total
18.0
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
TOC1*

 

Listed by Dean Thomas, E Real Estate Corp.,

Based on information from California Regional Multiple Listing Service, Inc. as of 8/11/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 4:49 PM UTC, 8/11/22

Vista | Sotheby's International Realty
Gerard Bisignano
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