16112 Van Ness Ave, Torrance, CA 90504

16112 Van Ness Ave, Torrance, CA 90504

Torrance, CA

Property Description

16112 Van Ness Avenue is a well-maintained, 9+1 unit apartment building comprised of four (4) 1 bed/1 bath, five (5) 2 bed/1 bath, and one (1) non-conforming bachelor’s unit. Unit 6 (2+1) is currently vacant, all tenants are current and paid in full. Over 20% rent upside. Seller has taken great care of property; copper plumbing throughout, a new security gate and fence was installed in 2018, a new roof was installed in 2015. Seven of the units have been updated with new kitchen cabinets, granite countertops, bathtubs and flooring during current ownership. Ten dedicated parking spots in the rear of the building. Great opportunity to hedge against inflation and own in a strong rental market. Contact LA1 for Offering Memorandum.

Property Features

  • Sale Price: $2,795,000
  • Area Size: 7,660 SF
  • Year Built: 1957
  • Listing Date: May 11, 2022
  • Closing Date: 7/12/2022
  • Units: 9
  • Current GRM: 15.90
  • Current Cap Rate: 3.80%
  • Market GRM: 12.95
  • Market Cap Rate: 5.12%

Lyon Stahl Investment Real Estate

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