Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1962
Sq.Footage
N/A
The AZTEC HOUSE APARTMENT complex is a 26 unit multi-family investment comprised of 25 legal units and 1 non-permitted unit. The improvements were built in 1962 in a courtyard style, with a swimming pool in the center. There is a laundry room onsite, secured entrance and 25 parking spaces. The rents are significantly below market, providing an opportunity for an investor to increase income immediately with a 30 day notice. The property is subject to the California Rent Ordinance AB1482, so future increases are limited to an annual amount of 5% plus the CPI, equating to a rent increase of approximately 8% per year presently. The property is located in South Torrance east of Hawthorne Boulevard and South of the recently renovated Del Amo Fashion Mall. This is a prime A+ location in a residential neighborhood of Torrance with very few apartment buildings on 227th Place or any of the adjacent streets. It has a “Very Walkable” score of 71 and is just 4 blocks from the Sepulveda Boulevard entrance to Del Amo Fashion Mall, Starbucks, Target, Ralph’s, and restaurants. The City of Torrance has a highly rated school district and there is an elementary school within close proximity to the complex.
Features & Amenities
Interior
Area & Lot
-
Lot Features
Greenbelt
-
Lot Size(acres)
0.5121
-
Property Type
Residential Income
Exterior
-
Garage
No
-
Parking
Assigned
Financial
-
Sales Price
$8,000,000
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Stephen Lampe , Re/Max Commercial & Investment
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