23870 Los Codona Avenue, Torrance, CA 90505
Property
Sold November 2024
Listing Agent: Brok Butcher (DRE #01880217) · Listing Office: Butcher Realty · Contact: 310 710-6387 · Bought with: Martin Ensbury · Lyon Stahl Investment Real Estate, Inc. · MLS #PV24169147 · Source: CRMLS
About this property
18 unit residential apartment building in prime Walteria/South Torrance area. Situated in a strong rental market, this well maintained building offers a mix of spacious 1 & 2 bedroom apartments with 1 studio & a bonus unit. -INCOME- Current gross scheduled income is $290,352/year. However, pro forma/market rents could bring the Gross scheduled income conservatively to around $425,000/year. -LAYOUT- Large 11,738 sqft building on a 17,440 sqft lot. 25 bedrooms in total with 19 bathrooms and a bonus, 450 sqft studio that is currently being used for storage. 9 (1 bedroom/1 Bath), 8 (2 bedrooms/1 Bath) & 1 (Studio). Total of 18 garage spaces; 8 covered garages w/ auto door openers & 10 covered garages. Co-Op shared laundry room w/ 2 washing machines & 2 dryers. Rent includes trash & water while tenants pay electrical, gas, cable, etc. Each unit comes with a stove. -SCHOOLS- Top rated school district in the country; 10/10 South High school, 9/10 elementary and middle schools. -MAINTENANCE/UPDATES- Exceptionally Maintained throughout the years w/ a new roof in 2020, new dual pane windows & gutters throughout (2017), new sprinklers covering the entire lot (2017), water heater (2017), most individual fuse boxes are less than 10 years old, & exterior painting of entire building was completed in 2017. -LOCATION- Groceries, shopping, restaurants all within a 1 mile radius, 6 min drive to the Hollywood Riviera in Redondo Beach, 7 mins to the Pacific Ocean, 5 min drive to the Palos Verdes Peninsula & 25 mins to LAX airport. Centrally located in the heart of highly distinguished Walteria/South Torrance area & a rare opportunity to own a generational, top tier property!
Listing description from the November 2024 sale, as reported to CRMLS.
Sale history