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Crestwood Apartments 21110 Wood Ave 18 Unit Apartment Building $8,347,440 CAD ($463,747 CAD/Unit) 4.98% Cap Rate Torrance, CA 90503
INVESTMENT HIGHLIGHTS
- 18-Unit Apartment in Highly Desirable West Torrance Location | Large 13,787-SF Lot
- Desirable Opportunity to Add ADUs | Total of 18 Garage Spaces
- No Local Rent Control – Defaults to AB 1482 | Four Units Delivered Vacant
- Located Approximately 1 Mile from the Pacific Ocean & Redondo Beach Pier and Close Proximity to Del Amo Fashion Center, King Harbor & Village Del Amo
- 4.98% Current Cap Rate & 13.07 Current GRM | 5.86% Pro-Forma Cap Rate & 11.64 Pro-Forma GRM
- Common Area Courtyard | On-Site Laundry Facility – Generates Additional Annual Income
EXECUTIVE SUMMARY
ASSET
18-unit apartment in a highly desirable west Torrance location. Not subject to local rent control – AB 1482 only.
Situated on a large 13,787-SF corner lot, the property contains a unit mix of (1) 2-bedroom/2-bathroom unit, (2) 2-bedroom/1-bathroom units, (9) 1-bedroom/1-bathroom units and (6) studio/1-bathroom units. Four of the units will be delivered vacant.
The property features a common area courtyard, on-site laundry facility and a total of 18 garage spaces. The large lot presents a desirable opportunity to add ADUs.
LOCATION
21110 Wood Avenue is located west of Anza Avenue, approximately 1 mile from the Redondo Beach Pier and the beach. The property is just 1 block north of Torrance Boulevard and in close proximity to Del Amo Fashion Center, Village Del Amo, King Harbor and many other retail, entertainment and dining options of Torrance and Redondo Beach.
FINANCIALS
The property has strong in-place rents as well as legitimate rental upside. The asset yields a current cap rate of 4.98% and current GRM of 13.07 with a pro-forma cap rate of 5.86% and pro-forma GRM of 11.64.
*Please do not disturb tenants. Buyer to conduct their own due diligence and investigation.
18-unit apartment in a highly desirable west Torrance location. Not subject to local rent control – AB 1482 only.
Situated on a large 13,787-SF corner lot, the property contains a unit mix of (1) 2-bedroom/2-bathroom unit, (2) 2-bedroom/1-bathroom units, (9) 1-bedroom/1-bathroom units and (6) studio/1-bathroom units. Four of the units will be delivered vacant.
The property features a common area courtyard, on-site laundry facility and a total of 18 garage spaces. The large lot presents a desirable opportunity to add ADUs.
LOCATION
21110 Wood Avenue is located west of Anza Avenue, approximately 1 mile from the Redondo Beach Pier and the beach. The property is just 1 block north of Torrance Boulevard and in close proximity to Del Amo Fashion Center, Village Del Amo, King Harbor and many other retail, entertainment and dining options of Torrance and Redondo Beach.
FINANCIALS
The property has strong in-place rents as well as legitimate rental upside. The asset yields a current cap rate of 4.98% and current GRM of 13.07 with a pro-forma cap rate of 5.86% and pro-forma GRM of 11.64.
*Please do not disturb tenants. Buyer to conduct their own due diligence and investigation.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$638,446
|
$60.02
|
| Other Income |
$6,678
|
$0.63
|
| Vacancy Loss |
$19,354
|
$1.82
|
| Effective Gross Income |
$625,770
|
$58.82
|
| Taxes |
$104,343
|
$9.81
|
| Operating Expenses |
$105,691
|
$9.94
|
| Total Expenses |
$210,034
|
$19.74
|
| Net Operating Income |
$415,736
|
$39.08
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $638,446 |
| Annual Per SF | $60.02 |
| Other Income (CAD) | |
|---|---|
| Annual | $6,678 |
| Annual Per SF | $0.63 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $19,354 |
| Annual Per SF | $1.82 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $625,770 |
| Annual Per SF | $58.82 |
| Taxes (CAD) | |
|---|---|
| Annual | $104,343 |
| Annual Per SF | $9.81 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $105,691 |
| Annual Per SF | $9.94 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $210,034 |
| Annual Per SF | $19.74 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $415,736 |
| Annual Per SF | $39.08 |
PROPERTY FACTS
| Price | $8,347,440 CAD | Apartment Style | Garden |
| Price Per Unit | $463,747 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 4.98% | Building Size | 10,638 SF |
| Gross Rent Multiplier | 13.07 | Average Occupancy | 78% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.69/1,000 SF |
| Zoning | TORR-MD | ||
| Price | $8,347,440 CAD |
| Price Per Unit | $463,747 CAD |
| Sale Type | Investment |
| Cap Rate | 4.98% |
| Gross Rent Multiplier | 13.07 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.32 AC |
| Building Size | 10,638 SF |
| Average Occupancy | 78% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.69/1,000 SF |
| Zoning | TORR-MD |
AMENITIES
SITE AMENITIES
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | $2,699 CAD | - |
| 1+1 | 9 | $2,856 CAD | - |
| 2+1 | 2 | $3,559 CAD | - |
| 2+2 | 1 | $4,174 CAD | - |
1 1
Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 7519-002-007 | Total Assessment | $8,368,380 CAD |
| Land Assessment | $4,564,571 CAD | Annual Taxes | $104,343 CAD ($9.81 CAD/SF) |
| Improvements Assessment | $3,803,809 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
7519-002-007
Land Assessment
$4,564,571 CAD
Improvements Assessment
$3,803,809 CAD
Total Assessment
$8,368,380 CAD
Annual Taxes
$104,343 CAD ($9.81 CAD/SF)
Tax Year
2025
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Crestwood Apartments | 21110 Wood Ave
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