16925 PRAIRIE Avenue, Torrance, CA 90504
Property · 2 recorded sales since 2017
Sold December 2020
Listing Agent: Brice Head (DRE #01330706) · Listing Office: Marcus & Millichap · Contact: 424-405-3900 · Bought with: Manny Nunez JD · CB Richard Ellis, Inc. · MLS #20577818 · Source: CRMLS
About this property
The subject property is unique in that ALL units have been renovated with new "everything". Upgrades include new dual-pane windows, laminate flooring, copper plumbing, granite counter tops, electrical panels, ceiling fans, front doors and more. New railings and sewer line, as well.A "Buyer-friendly" 5.5% cap opportunity in one of The South Bay's tried-and-true rental submarkets. Torrance is known for its diverse economic base and ideal location straddling the 405 Fwy. Torrance has a more landlord-friendly rent control of "5% plus CPI", annually and you get an extra 1%, annually, also, due to master-metering of this building. The property has 27 parking spaces and three laundry rooms -one on each floor.The attractive mid-5% cap pricing lends itself to excellent potential loan-to-value -some lending institutions will lend as much as 75% LTV on this deal!That being said, 65-70% LTV will afford a Buyer the best interest rates -in the mid 3% range.
Listing description from the December 2020 sale, as reported to CRMLS.
Sale history
