23315-23323 Arlington Ave
10 Unit Apartment Building $3,250,000 ($325,000/Unit) 4.54% Cap Rate Torrance, CA 90501
INVESTMENT HIGHLIGHTS
- Excellent opportunity to acquire two contiguous five-unit buildings in the desirable Torrance rental market
- Properties feature on-site laundry, new windows, and carport parking with storage for each unit
- All two-bedroom/one-bath units
- Great Torrance location within one block of both an elementary school and a middle school; average household income within one mile is $131K
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present to market 23315-23323 Arlington Avenue, two five-unit buildings on contiguous parcels in Torrance, California. This offering presents an excellent opportunity to acquire an asset well-located in the desirable inland South Bay rental market that boasts all two-bedroom/one-bath units and 27 percent rental upside.
23315-23323 Arlington Avenue consists of two two-story buildings, one of which is on a corner lot, and 10 two-bedroom/one-bath units that are separately metered for gas and electricity. The buildings also feature on-site laundry and a tuck-under parking space with storage for each unit.
The property is in a great location proximate to schools; both J.H. Hull Middle School and Wood Elementary are just one block away, and the major Torrance Crossroads shopping center is just one mile away, offering tenants convenient proximity to retail.
23315-23323 Arlington Avenue consists of two two-story buildings, one of which is on a corner lot, and 10 two-bedroom/one-bath units that are separately metered for gas and electricity. The buildings also feature on-site laundry and a tuck-under parking space with storage for each unit.
The property is in a great location proximate to schools; both J.H. Hull Middle School and Wood Elementary are just one block away, and the major Torrance Crossroads shopping center is just one mile away, offering tenants convenient proximity to retail.
PROPERTY FACTS
| Price | $3,250,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 4.54% |
| Gross Rent Multiplier | 13.81 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 12,401 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.22/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Kitchen
- Sprinkler System
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | - | - |
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 7371-030-030 | Improvements Assessment | $815,000 |
| Land Assessment | $900,000 | Total Assessment | $1,715,000 |
ZONING
| Zoning Code | RP, Torrance |
