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16925 Pr

torrance, CA 90504

$7,200,000

    Interested? Let's Connect

    We are proud to present 16925 Prairie Ave – a heavy cash-flowing 29-unit multifamily complex located in the City of Torrance. 16925 Prairie Ave is located in the Northwest region of the City of Torrance adjacent to Alondra Park and all it’s community amenities. The property is conveniently located just off of the 405 freeway and Redondo Beach Blvd, surrounded by Single Family Homes with an average home sales price exceeding $850,000. Additionally, the property is walking distance to several convenience stores and benefits from its proximity to several big-name retailers like Target, Kohls, Ralphs, Total Wine, and Trader Joes to name a few. Tenants value being within reasonable commutes to major employers like LA International Airport, Ports of Long Beach, DTLA, and others in nearby areas.  The property offers 29 units, including 2 newly-constructed ADUs that have been leased out at market rate. The unit mix consists of 2, Studios, 24, one-bedrooms, and 3, two-bedroom apartments. Currently the property produces an outstanding annual income of over $643,000. The property has undergone a variety of recent capital improvements including a newly paved parking lot, a new room on 2 of the 3 buildings, electrical improvements, majority newer windows, renovated units, and more. Currently, the property collects just over $643,000 per year and requires less than 34% of the effective gross income for operating expenses. A new investor will recognize the benefit of the heavy-cashflow through the capability of leveraging higher LTV debt opportunities. Tenants enjoy a grassy open courtyard space, on-site gated parking, and access to multiple laundry facilities.

    Details

    12,019 Sq Ft

    0.3543 Private Acres Lot Size

    apartment

    Built in 1964

    MLS/Listing ID CV26021669

    1 Stories

    29 Units

    Amenities & Features

    Cooling - Wall/window unit(s)

    Common Area

    Parking - Assigned

    Community - Biking

    Community - Curbs

    Community - Dog Park

    Community - Sidewalks

    Community - Park

    Community - Horse Trails

    Community - Gutters

    Community - Golf

    Community - Fishing

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    TOTAL MONTHLY COST

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    • PRINCIPAL & INTEREST

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    • PROPERTY TAXES

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    • Common Charges

      $0

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