Skip To Content
    Return to Previous Page

    16925 Prairie Ave

    Torrance, CA 90504
    • $6,399,000
    • STATUS: Active
    • ON SITE: 110 days
    • ID#: 20-577818
    $6,399,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,719
      SQFT
    • $597
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    The subject property is unique in that ALL units have been renovated with new "everything". Upgrades include new dual-pane windows, laminate flooring, copper plumbing, granite counter tops, electrical panels, ceiling fans, front doors and more. New railings and sewer line, as well.A "Buyer-friendly" 5.5% cap opportunity in one of The South Bay's tried-and-true rental submarkets. Torrance is known for its diverse economic base and ideal location straddling the 405 Fwy. Torrance has a more landlord-friendly rent control of "5% plus CPI", annually and you get an extra 1%, annually, also, due to master-metering of this building. The property has 27 parking spaces and three laundry rooms -one on each floor.The attractive mid-5% cap pricing lends itself to excellent potential loan-to-value -some lending institutions will lend as much as 75% LTV on this deal!That being said, 65-70% LTV will afford a Buyer the best interest rates -in the mid 3% range.

    Monthly Payment Calculator



    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-23T23:42:31.58. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.randyplaice.com/homes/106577016
    Print Image

    16925 Prairie Ave Torrance, CA 90504

    • Price: $6,399,000
    • Status: Active
    • ID#: 20-577818
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    10,719
    SQFT
    $597
    $/SQFT
    1964
    Built
    Neighborhood:
    North Torrance West
    County:
    Los Angeles
    Area:
    North Torrance West
    Property Description
    The subject property is unique in that ALL units have been renovated with new "everything". Upgrades include new dual-pane windows, laminate flooring, copper plumbing, granite counter tops, electrical panels, ceiling fans, front doors and more. New railings and sewer line, as well.A "Buyer-friendly" 5.5% cap opportunity in one of The South Bay's tried-and-true rental submarkets. Torrance is known for its diverse economic base and ideal location straddling the 405 Fwy. Torrance has a more landlord-friendly rent control of "5% plus CPI", annually and you get an extra 1%, annually, also, due to master-metering of this building. The property has 27 parking spaces and three laundry rooms -one on each floor.The attractive mid-5% cap pricing lends itself to excellent potential loan-to-value -some lending institutions will lend as much as 75% LTV on this deal!That being said, 65-70% LTV will afford a Buyer the best interest rates -in the mid 3% range.
    Exterior Features

    Lot Size Area 15434 Other Structures Other Parking Garage Parking Space Total Parking 27

    Interior Features

    Baths Total 27.00 Cooling None Equipment Range/Oven Heating Wall

    Property Features

    Electric Expense 13794.00 Gross Income 529017 Gross Operating Income 543317 Insurance Expense 4500.00 Like Units1 1 Like Units2 2 Like Units3 2 Like Units4 18 Like Units5 1 Like Units6 1 Maintenance Expense 21732.00 Management Expense 21080.00 Net Operating Income 352462.00 Number Of Buildings 2 Number Of Units 27 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 176555 Trash Expense 1770.00 Type Of Units Mix Water Expense 11145.00 Year Built Source Assessor Zoning Tocc-Gen

    Listing provided courtesy of Brice Head DRE#01330706 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-23T23:42:31.58. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
    https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_20-577818-3.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_20-577818-3.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_20-577818-3.jpg
    Logo
    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355