1440 W 224th Street, Torrance, CA 90501
Property · 2 recorded sales since 2018
Sold December 2022
Listing Agent: Jeffrey Louks (DRE #00908473) · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Jeffrey Louks · Marcus & Millichap · MLS #22197781 · Source: CRMLS
About this property
We are pleased to present 1440-1444 224th Street, a 10-unit value-add apartment building located in Torrance, California. The building consists of all two-bedroom/one-bathroom units. In addition, current ownership has submitted plans pending approval to construct two (2) two-bedroom/one-bathroom ADU's. The building features secured access on on-grade parking. Built in 1958, the combined building square footage is 8,564 which sits on a large 0.41 AC lot that is LARD2 zoned. This is a tremendous opportunity for a value-add investor as current rents are approximately 37% under market.1440-1444 224th Street is well located and features area attractions such as Normandale Recreation Center and Skate Park (one-half block away), Torrance County Beach (approximately 5 miles away), Harbor UCLA Medical Center (approximately 1.2 miles away), American Honda Motor Company (approximately 2.7 miles away) and Del Amo Fashion Center (approximately 2.8 miles away). The property is also conveniently located near the 110 and 405 freeways for quick access to Downtown LA, the Westside, Long Beach, Orange County and surrounding areas. Torrance is located in the South Bay region of the Los Angeles metropolitan area and has a population of roughly 150,000. Incorporated in 1921, the city has 1.5 miles of beachfront on the Pacific Ocean and consistently ranks among the safest cities in Los Angeles County. Torrance is considered one of the strongest rental submarkets in the South Bay as it is known for its stable workforce housing and historically low vacancy rates.
Listing description from the December 2022 sale, as reported to CRMLS.
Sale history
