1651-1655 W 206th St 12 Unit Apartment Building $3,808,890 CAD ($317,407 CAD/Unit) 5.17% Cap Rate Torrance, CA 90501

ASSET
12-unit apartment located in Torrance P.O. The property is comprised of (2) adjacent 6-unit apartments situated on a combined 14,008-SF total lot. Each property has its own Assessor Parcel Number (APN). The buildings were constructed in 1978 and are comprised of (12) 2-bedroom/1.5-bathroom units. The property is gated and features 2 laundry rooms, a total of 24 parking spaces and the roofs were replaced approximately 12 years ago. The large lot and ample parking areas present a desirable opportunity to add ADUs. Furthermore, the tenants are on the RUBs program which allows the landlord to be reimbursed for some of the utility expenses and reduce operational expenses.
LOCATION
1651-1655 W. 206th Street is located approximately 1 mile from Harbor-UCLA Medical Center and a short commute from Old Town Torrance, Torrance Crossroads, Torrance Business Center, and Del Amo Fashion Center. Other nearby employment centers include American Honda, Honeywell, the Stubhub Center, Northrop Grumman, Intuit Dome, Hollywood Park, Raytheon, the Los Angeles Airport, and SoFi Stadium.
FINANCIALS
This 8,976-SF investment opportunity presents stable-in place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.17% and current GRM of 11.05 with a pro-forma cap rate of 8.41% and pro-forma GRM of 7.98.