16910-16924 Crenshaw Boulevard | 16910 Crenshaw Blvd
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16910-16924 Crenshaw Boulevard 16910 Crenshaw Blvd
29 Unit Apartment Building $5,600,000 ($193,103/Unit) 5.69% Cap Rate Torrance, CA 90504
Investment Highlights
- NO LOCAL RENT CONTROL - DEFAULTS TO AB 1482 | 29-UNIT INVESTMENT OPPORTUNITY IN OUTSTANDING TORRANCE LOCATION
- PRICED AT ONLY $193,103 PER UNIT | EACH UNIT CONTAINS INDIVIDUAL HOT WATER HEATERS
- COURTYARD, POOL, 29 PARKING SPACES & ON-SITE LAUNDRY FACILITY
- SITUATED ON ADJACENT PARCELS - EACH LOT WITH ITS OWN APN | 5.69% CAP RATE & 11.67 GRM | PRO-FORMA CAP RATE OF 7.97%
- TOTAL OF 12,952-SF OF LIVING AREA ON LARGE 19,824-SF CORNER LOT | ALL-ELECTRIC BUILDINGS
- ONE BUILDING WITH NEWER ROOF
Executive Summary
Price Reduced by $150,000!
Luca is proud to present this 29-unit investment opportunity in Torrance. The property is situated in an outstanding Torrance location and is NOT subject to LA Rent Control and instead falls under AB-1482. The asset has a unit mix of (2) 2-bedroom/1-bathroom units, (3) 1-bedroom/1-bathroom units, (15) studio/1-bathroom units and (9) bachelor/1-bathroom units. The property is situated on two separate, adjacent parcels - each lot with its own assessor parcel number (APN). The offering is priced at only $193,103 per unit. The property features a total of 12,952-SF of living area and is situated on a large 19,824-SF corner lot.
The asset is being offered at a 5.69% current cap rate and 11.67 current GRM with upside to a 7.97% pro-forma cap rate. Each unit has individual hot water heaters and both buildings are all electric. 16924 Crenshaw has a newer roof. Furthermore, there is a courtyard area with a pool, 29 parking spaces, and an on-site laundry facility with two washers and two dryers.
Please contact Luca Jacoli for more information. Buyer is encouraged to independently verify the accuracy of any information through inspection(s), due diligence, and professionals. Broker and Agent do not guarantee the accuracy of any information concerning the size, condition, financials, or features of said property. Buyer to conduct their own due diligence and investigation of the property. Please do not disturb tenants.
Luca is proud to present this 29-unit investment opportunity in Torrance. The property is situated in an outstanding Torrance location and is NOT subject to LA Rent Control and instead falls under AB-1482. The asset has a unit mix of (2) 2-bedroom/1-bathroom units, (3) 1-bedroom/1-bathroom units, (15) studio/1-bathroom units and (9) bachelor/1-bathroom units. The property is situated on two separate, adjacent parcels - each lot with its own assessor parcel number (APN). The offering is priced at only $193,103 per unit. The property features a total of 12,952-SF of living area and is situated on a large 19,824-SF corner lot.
The asset is being offered at a 5.69% current cap rate and 11.67 current GRM with upside to a 7.97% pro-forma cap rate. Each unit has individual hot water heaters and both buildings are all electric. 16924 Crenshaw has a newer roof. Furthermore, there is a courtyard area with a pool, 29 parking spaces, and an on-site laundry facility with two washers and two dryers.
Please contact Luca Jacoli for more information. Buyer is encouraged to independently verify the accuracy of any information through inspection(s), due diligence, and professionals. Broker and Agent do not guarantee the accuracy of any information concerning the size, condition, financials, or features of said property. Buyer to conduct their own due diligence and investigation of the property. Please do not disturb tenants.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$480,060
|
$37.06
|
| Other Income |
$1,200
|
$0.09
|
| Vacancy Loss |
$14,438
|
$1.11
|
| Effective Gross Income |
$466,822
|
$36.04
|
| Taxes |
$70,000
|
$5.40
|
| Operating Expenses |
$77,909
|
$6.02
|
| Total Expenses |
$147,909
|
$11.42
|
| Net Operating Income |
$318,913
|
$24.62
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $480,060 |
| Annual Per SF | $37.06 |
| Other Income | |
|---|---|
| Annual | $1,200 |
| Annual Per SF | $0.09 |
| Vacancy Loss | |
|---|---|
| Annual | $14,438 |
| Annual Per SF | $1.11 |
| Effective Gross Income | |
|---|---|
| Annual | $466,822 |
| Annual Per SF | $36.04 |
| Taxes | |
|---|---|
| Annual | $70,000 |
| Annual Per SF | $5.40 |
| Operating Expenses | |
|---|---|
| Annual | $77,909 |
| Annual Per SF | $6.02 |
| Total Expenses | |
|---|---|
| Annual | $147,909 |
| Annual Per SF | $11.42 |
| Net Operating Income | |
|---|---|
| Annual | $318,913 |
| Annual Per SF | $24.62 |
Property Facts
| Price | $5,600,000 | Apartment Style | Low Rise |
| Price Per Unit | $193,103 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 5.69% | Building Size | 12,952 SF |
| Gross Rent Multiplier | 11.67 | Average Occupancy | 95% |
| No. Units | 29 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 2.24/1,000 SF |
| Price | $5,600,000 |
| Price Per Unit | $193,103 |
| Sale Type | Investment |
| Cap Rate | 5.69% |
| Gross Rent Multiplier | 11.67 |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.46 AC |
| Building Size | 12,952 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 2.24/1,000 SF |
Site Amenities
- Courtyard
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,268 | - |
| 1+1 | 3 | $1,577 | - |
| Studios | 24 | $1,364 | - |
1 of 1
Walk Score ®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 4093-016-042 | Total Assessment | $1,131,236 (2024) |
| Land Assessment | $370,952 (2024) | Annual Taxes | $70,000 ($5.40/SF) |
| Improvements Assessment | $760,284 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
4093-016-042
Land Assessment
$370,952 (2024)
Improvements Assessment
$760,284 (2024)
Total Assessment
$1,131,236 (2024)
Annual Taxes
$70,000 ($5.40/SF)
Tax Year
2023
zoning
| Zoning Code | TORR-MD |
| TORR-MD |
-
Gianluca Jacoli -
Allen Gholian -
Shield Commercial Real Estate
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16910-16924 Crenshaw Boulevard | 16910 Crenshaw Blvd
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