Sold

1440 W 224th Street

Torrance CA, 90501

$2,500,000


$291.92 per sqft

Sold

20 Beds

10 Baths

8,564 sqft

Unknown

Built in 1958

Listed by Jeffrey Louks with Marcus & Millichap 818-212-2700

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.

22197781

MLS ID

September 7, 2022

Listed

February 10, 2024

Updated

Map

1440 W 224th Street
Torrance CA, 90501

Interior Features

Total Stories

2


Bedrooms

20 Beds


Bathrooms

10 Baths


Fireplace

No


Cooling

Yes


Cooling Description

Wall/Window Unit(s)


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.41 Acres

Other Property Details

Area Name

122 - Harbor Gateway


Days on Market

47


Garage

No


Parking

Carport, Uncovered


Parking Total

0


View

No


County

Los Angeles


Pool

No


Zoning

LARD2


Buyer Agency Compensation

1.6%

Listing Contact: 818-212-2700 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/10/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/10/2024 at 7:17 AM UTC

 

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