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$5,310,000
$5,450,000
2.6%For more information regarding the value of a property, please contact us for a free consultation.
2758 Orange AVE Torrance, CA 90501
0.5 Acres Lot
Key Details
Sold Price $5,310,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24103226
Sold Date 11/07/24
HOA Y/N No
Year Built 1964
Lot Size 0.500 Acres
Property Description
We are pleased to present a 15 unit apartment community located at 2758 Orange Avenue in Torrance CA. Situated in Old Town, the subject property is proximate to many dining and entertainment options, and located on a quiet residential street. Current ownership has held this property for over 20 years and has maintained it particularly well including window roof and electric upgrades. Every subpanel has been upgraded in the units. 2758 Orange Avenue is an all electric building that benefits from a rare unit mix of mostly townhome style, two-story, condo quality floorplans. Amenities include oven range, large windows, vinyl plank flooring, and modern paint. The property also has ample parking, on-site laundry, private patios, and controlled gated access. Additionally a buyer has the opportunity to add up to 5 ADUs onsite. Priced attractively at over a 5.8% cap rate, and 11.43 GRM, the strong current cash flow with significant upside in NOI provides a rare value-add opportunity in a highly sought after submarket of the South Bay.
Location
State CA
County Los Angeles
Area 134 - Old Torrance
Zoning TORR-MD
Rooms
Ensuite Laundry Common Area
Interior
Interior Features Balcony, Ceiling Fan(s)
Laundry Location Common Area
Heating Electric
Cooling Wall/Window Unit(s)
Flooring Carpet, Tile, Vinyl
Fireplace No
Appliance Dishwasher, Electric Range, Gas Water Heater
Laundry Common Area
Exterior
Garage Attached Carport, Controlled Entrance, Concrete, Detached Carport, Driveway
Garage Spaces 15.0
Garage Description 15.0
Pool None
Community Features Park
Parking Type Attached Carport, Controlled Entrance, Concrete, Detached Carport, Driveway
Total Parking Spaces 15
Private Pool No
Building
Lot Description Front Yard, Value In Land
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7359013019
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
Lease Land No
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Bought with Benjamin Lester • Kape Property Management, Inc.