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Listed by Justino Faaola • COMPASS
$7,200,000
Est. payment /mo
0.35 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRCV26021669
Year Built 1964
Lot Size 0.354 Acres
Source California Regional MLS
Property Description
We are proud to present 16925 Prairie Ave - a heavy cash-flowing 29-unit multifamily complex located in the City of Torrance. 16925 Prairie Ave is located in the Northwest region of the City of Torrance adjacent to Alondra Park and all it's community amenities. The property is conveniently located just off of the 405 freeway and Redondo Beach Blvd, surrounded by Single Family Homes with an average home sales price exceeding $850,000. Additionally, the property is walking distance to several convenience stores and benefits from its proximity to several big-name retailers like Target, Kohls, Ralphs, Total Wine, and Trader Joes to name a few. Tenants value being within reasonable commutes to major employers like LA International Airport, Ports of Long Beach, DTLA, and others in nearby areas. The property offers 29 units, including 2 newly-constructed ADUs that have been leased out at market rate. The unit mix consists of 2, Studios, 24, one-bedrooms, and 3, two-bedroom apartments. Currently the property produces an outstanding annual income of over $643,000. The property has undergone a variety of recent capital improvements including a newly paved parking lot, a new room on 2 of the 3 buildings, electrical improvements, majority newer windows, renovated units, and more. Currently,
Location
State CA
County Los Angeles
Area 132 - N Torrance - West
Interior
Cooling Window / Wall Unit
Laundry Laundry Area
Exterior
Parking Features Assigned Spaces
Pool None
Building
Story One Story, Three or More Stories
Water District - Public
Others
Tax ID 4087018001
Special Listing Condition Not Applicable
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