1623 ARLINGTON AVE

1623 Arlington Ave, Torrance, CA 90501
$2,600,000

Cap Rate
3.75%
GRM
17.00
Units
10
Gross SQFT
4,807
Year Built
1961

Broker of Record

  • Kyle Matthews
  • License No. 1972189
  • (310) 919-5757
  • Matthews Retail Group, Inc.
  • 841 Apollo Street. Suite 150,
    El Segundo, CA 90245

PROPERTY OVERVIEW

Matthews Real Estate Investment Services is proud to offer 1623 Arlington Avenue in Torrance, California. This 10-unit apartment building is an opportunity for an investor to purchase a multifamily property in the heart of the Historic Old Town. Tenants appreciate and enjoy the quiet residential neighborhood while still being conveniently located minutes away from parks, restaurants, shops, and the Del Amo Fashion Center.

The property consists of a desirable unit mix of (4) one-bedroom/one-bathroom and (6) studio units. One-bedroom units in this immediate area are currently renting from $1600 to $1800 per month. This offering presents an opportunity for a new investor to capitalize on the tight rental market and high rents in this neighborhood by implementing a strategic unit interior renovation plan, which will upgrade the units and allow the buyer to command top of the market rents. Rents at the high end of the range result in 28% rent upside potential.

PROPERTY HIGHLIGHTS

  • 10 Units | Built in 1961.
  • Gross Building Square Footage of 4,807.
  • Consists of (4) One Bedroom/One Bathroom and (6) Studio units.
  • (10) One-Car Garages with Alley-Access.
  • All-Electric Building – Individually Metered for Electricity.
  • Laundry Room On-Site.
  • Lot Size of 7,299 Square Feet.
  • TORR-MD Zoning.