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Dion Stallberg

dion@ocexcelgroup.com +1(949) 690-4106

$ 6,890,000

Est. payment | -/mo

0.35 Acres Lot

Save

$ 6,890,000

Est. payment | -/mo

Save

0.35 Acres Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV26021669

HOA Y/N No

Year Built 1964

Lot Size 0.354 Acres

Property Sub-Type Apartment

Property Description

We are 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. 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.

Location

State CA

County Los Angeles

Area 132 - N Torrance - West

Interior

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned

Pool None

Community Features Biking, Curbs, Dog Park, Fishing, Golf, Gutter(s), Horse Trails, Park, Sidewalks

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 3

Entry Level One,Two,Three Or More

Sewer Public Sewer

Water Public

Level or Stories One, Two, Three Or More

New Construction No

Others

Senior Community No

Tax ID 4087018001

Energy Description 6902.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Lease Land No

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Justino Faaola COMPASS 626-315-7603, DRE #02038198

NEARBY SCHOOL & BUSINESS

+1(949) 690-4106

dion@ocexcelgroup.com

344 3rd St, Beach, CA, 92651, United States

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16925 Prairie Torrance, CA 90504