Listed by Jeffrey Louks, Marcus & Millichap,

1440 W 224th Street

Torrance, CA, 90501

$2,500,000

$291 per ft²
$2,500,000
$291 per ft²
Active
Active
 - For Sale
beds
20 Beds
baths
10 Baths
carpenters-square
8,564 ft²
property_type
Multi-family
calendar
Built 1958
We are pleased to present 1440-1444 224th Street, a 10-unit value-add apartment building located in Torrance, California. The building consists of all two-bedroom/one-bathroom units. In addition, current ownership has submitted plans pending approval to construct two (2) two-bedroom/one-bathroom ADU's. The building features secured access on on-grade parking. Built in 1958, the combined building square footage is 8,564 which sits on a large 0.41 AC lot that is LARD2 zoned. This is a tremendous opportunity for a value-add investor as current rents are approximately 37% under market.1440-1444 224th Street is well located and features area attractions such as Normandale Recreation Center and Skate Park (one-half block away), Torrance County Beach (approximately 5 miles away), Harbor UCLA Medical Center (approximately 1.2 miles away), American Honda Motor Company (approximately 2.7 miles away) and Del Amo Fashion Center (approximately 2.8 miles away). The property is also conveniently located near the 110 and 405 freeways for quick access to Downtown LA, the Westside, Long Beach, Orange County and surrounding areas. Torrance is located in the South Bay region of the Los Angeles metropolitan area and has a population of roughly 150,000. Incorporated in 1921, the city has 1.5 miles of beachfront on the Pacific Ocean and consistently ranks among the safest cities in Los Angeles County. Torrance is considered one of the strongest rental submarkets in the South Bay as it is known for its stable workforce housing and historically low vacancy rates.
MLS® ID:
22197781
Listed:
9/6/22
Updated:
9/29/22

Interior Features

Total Bedrooms
20
Total Bathrooms
10
Cooling
Wall/Window Unit(s)
Heating
Wall Furnace

Exterior/Building Features

Lot Size
0.41 acres lot

Other Property Details

Area Name
122 - Harbor Gateway
Garage
No
Parking
Carport, Uncovered
View
N
County
Los Angeles
Pool
No
Total Stories
2
Zoning
LARD2

 

Listed by Jeffrey Louks, Marcus & Millichap,

Based on information from California Regional Multiple Listing Service, Inc. as of 9/29/22. 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 9:12 PM UTC, 9/29/22

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