New Listing – Two Homes on a Lot in Torrance with Remodeled Backhouse
Lyon | Stahl is pleased to present 18229-18231 Regina Ave in North Torrance, brought to you by Brett Lyon and Woody Stahl.
Listed at $990,000 this building was built in 1949, has a cap rate of 4.19% and an NOI of $41,450.
This property consists of two (2) homes on a lot that have a total living area of 2,087 SF. Situated on a 6,754 SF lot, these fully occupied
buildings are currently generating $4,855 per month (including $265.00 a month from the additional two-car garage).
The front house (2-bed/1-bath) has half copper and half galvanized plumbing and features all new windows. The back house
consists of 3-bed/2-baths and was recently remodeled with new laminate and tile flooring, new appliances, and all copper plumbing.
The main water line for the entire property is also copper and the roof was recently replaced 5 years ago.
Given the property’s upside in market rent potential (nearly 20%) and central location near restaurants and retailers,
this is a great opportunity for any investor looking to add a great piece of real estate to their portfolio!
The most heavily populated county in the country is Los Angeles County with approximately 9.9 million people, including about 1 million that live in unincorporated areas of the county. The metropolis – formed by the six neighboring counties of Los Angeles, Ventura, Kern, San Bernardino, Riverside, and Orange – is home to approximately 19 million residents. Los Angeles County is home to one of the most educated labor pools in the country and offers a labor force of more than 4.7 million, of which more than 1.5 million are college graduates. Los Angeles County has the largest population of any county in the nation, exceeded only by eight states. According to the United States Conference of Mayors, Los Angeles County boasts a GDP among the twenty largest in the world. Los Angeles County’s continued economic growth, in contrast to other areas of the state and nation, is due to its diversified economy and abundant, well-trained workforce.
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