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16925 Prairie, Torrance, CA 90504
Priced at Only: $7,200,000
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Address: 16925 Prairie, Torrance, CA 90504
Property Location and Similar Properties
- MLS#: CV26021669 ( Apartment )
- Street Address: 16925 Prairie
- Viewed: 1
- Price: $7,200,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1964
- Bldg sqft: 0
- Days On Market: 40
- Additional Information
- County: LOS ANGELES
- City: Torrance
- Zipcode: 90504
- Provided by: COMPASS
- Contact: Justino Justino

- DMCA Notice
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DescriptionWe 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 its 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.
Features
Building Area Total
- 12019.00
Commoninterest
- Community Apartment
Common Walls
- 2+ Common Walls
Cooling
- Wall/Window Unit(s)
Country
- US
Days On Market
- 38
Electric Expense
- 19198.00
Entry Location
- Ground
Fireplace Features
- None
Fuel Expense
- 6902.00
Garage Spaces
- 0.00
Gardner Expense
- 1500.00
Insurance Expense
- 21750.00
Laundry Features
- Common Area
Levels
- One
- Two
- Three Or More
Lockboxtype
- None
Lot Features
- 0-1 Unit/Acre
Netoperatingincome
- 414706.00
Newtaxesexpense
- 82923.00
Otherexpense
- 1900.00
Otherexpensedescription
- Reserves
Parcel Number
- 4087018001
Parking Features
- Assigned
Pool Features
- None
Professionalmanagementexpense
- 24966.00
Property Type
- Apartment
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 455635592:CRM
Tenant Pays
- None
Totalexpenses
- 209437.00
Trash Expense
- 12148.00
Vacancyallowance
- 19303
Water Sewer Expense
- 8399.00
Water Source
- Public
Workmanscompensationexpense
- 6000.00
Year Built
- 1964
Year Built Source
- Public Records
- Xavier Gomez, BrkrAssc,CDPE
- RE/MAX College Park Realty
- BRE 01736488
- Fax: 714.975.9953
- Mobile: 714.478.6676
- salesbyxavier@gmail.com



