1622 Gramercy Avenue Active Save Request In-Person Tour Request Virtual Tour
Torrance,CA 90501
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 13,270 sqft
Price per Sqft $440
MLS Listing ID SB-22201020
Year Built 2010
Lot Size 0.254 Acres
Property Sub-Type Condominium
Property Description
Excellent and unique opportunity in downtown Torrance. Mixed-use building with 6 residential units, 1 commercial suite, 6 two-car garages; optional, can be converted to ADUs. This property has 7 separate deeds and APNs, updated budgets, bylaws and CC&Rs. Market rents average $4750 per unit; approximately $400,000 per year income. Property is priced at approximately 5.141% cap. Property has been completely upgraded throughout. Commercial tenant at ground floor has two years left on lease. The commercial suite comes with sign rights and permissible uses for office, medical, restaurants and animal services. This building is a perfect investment opportunity to buy 7 separate units in bulk. The owner of the property has the individual units on the market, but will give serious consideration to a bulk sale transaction.
Location
State CA
County Los Angeles
Area 134 - Old Torrance
Zoning TOC1*
Interior
Laundry Inside
Exterior
Parking Features Gated
Garage Spaces 12.0
Pool None
Community Features Sidewalks,Suburban
Building
Sewer Public Sewer