1638 West 207th Street 1638 W 207th St 5 Unit Apartment Building $1,350,000 ($270,000/Unit) 4.90% Cap Rate Torrance, CA 90501

ASSET
5-unit apartment located in Torrance P.O.
The property was built in 1986 and features an outstanding unit mix of (one) 3-bedroom/2-bathroom unit, (one) 3-bedroom/1.75-bathroom unit, (one) 2-bedroom/1.75-bathroom unit and (two) 2-bedroom/1-bathroom units.
No local rent control – defaults to AB 1482.
Situated on a large 7,501-SF lot, the property features 10 parking spaces and an on-site laundry facility which is able to generate additional income.
The large lot presents a desirable opportunity to add ADUs in the parking area at the rear of the property.
LOCATION
1638 W. 207th Street is located less than mile from Harbor-UCLA Medical Center and a short commute from Old Town Torrance, Torrance Crossroads, Torrance Business Center, and Del Amo Fashion Center. Other nearby employment centers include American Honda, Honeywell, the Stubhub Center, Northrop Grumman, Hollywood Park Tomorrow, Raytheon, the Los Angeles Airport, and SoFi Stadium.

FINANCIALS
This 4,912-SF investment opportunity has strong in-place rents with a current cap rate of 4.90% and current GRM of 12.39. The asset also contains approximately +/-38% in rental upside with a pro-forma cap rate of 7.89% and pro-forma GRM of 8.97.