Listing provided courtesy of Manny Nunez JD of CB Richard Ellis, Inc.. Last updated 2022-01-16 09:10:59.000000. Listing information © 2021 CRMLS.
Asking Price: $7,054,000
16925 Prairie, Torrance CA 90504
Community: 132 - N Torrance - West
This property was built in 1964 and is priced at $7,054,000. Please see the additional details below.
- 0 Sq Ft
- 0 bathrooms
- 0 bedrooms
- MLS#: 367495473
- Year Built: 1964
We are pleased to present present for sale, The Torrance 27, a unique 27-unit Investment opportunity located in the City of Torrance within the highly coveted and business friendly South Bay. 16925 Prairie is conveniently located minutes from Los Angeles' most beautiful beaches: 4.5 miles to Manhattan Beach, and 4 miles to Hermosa Beach. Torrance is one of LA County's most business-friendly cities, with top rated municipal services, no gross receipts tax, and more. Vacancies in the South Bay are on average below metro Los Angeles with a vacancy rate at 2.8%, well below the 4.3% average. Sales volume during the past year, $592M, is in line with historical averages. The local economy is driven by its long ties to the aerospace, automotive, and energy sectors. Average household income in The City of Torrance is $126,654. The Torrance 27 presents investors a unique opportunity to acquire an asset with an assumable Freddie Mac loan at 2.95% (Please contact Broker for more information). Further, 93% of the income is government subsidized creating a uniquely stable asset for any investors portfolio. We imagine a new investor may extract further value from the building by implementing RUBS and increasing NOI. The City of Torrance is not rent controlled which gives investors more freedom to grow NOI in a high demand rental market. Please contact listing agent for more details.