1870 W 218th Street

    Torrance, CA 90501
    • $2,650,000
    • STATUS: Active
    • ON SITE: 38 days
    • ID#: SB20008764
    UPDATED: 42 min ago
    $2,650,000
    • 0
      BEDS
    • 0.51
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 27,334
      SQFT
    • $97
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1939
    County:

    School Ratings & Info

    Description

    1870 W 218th St and 1745-1747 Border Ave is an exciting development opportunity located in the heart of Old Town Torrance. The property currently consists of four (4) 1-bed/1-bath units situated on a 9,606 SF lot, 2,280 SF of office space situated on a 6,273 SF lot, and a 6,274 SF parking lot. The owners have started the entitlement process to build twenty-two (22) new apartment units along with 1,314 SF of office space. +-The unit mix for the proposed development plan is to build six (6) 1-bed/1-bath units, ten (10) 2-bed/1-bath units, and six (6) 2-bed/2-bath units. The plan also includes twenty-two (22) on-site parking spaces that will generate an estimated $4,500 a year in additional income.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-22T13:28:59.907. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

    www.livelovethefoothills.com/homes/102291139

    1870 W 218th Street Torrance, CA 90501

    • Price: $2,650,000
    • Status: Active
    • Updated: 42 min ago
    • ID#: SB20008764
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.51
    Acres
    27,334
    SQFT
    $97
    $/SQFT
    1939
    Built
    Neighborhood:
    134 - Old Torrance
    County:
    Los Angeles
    Area:
    134 - Old Torrance
    Property Description
    1870 W 218th St and 1745-1747 Border Ave is an exciting development opportunity located in the heart of Old Town Torrance. The property currently consists of four (4) 1-bed/1-bath units situated on a 9,606 SF lot, 2,280 SF of office space situated on a 6,273 SF lot, and a 6,274 SF parking lot. The owners have started the entitlement process to build twenty-two (22) new apartment units along with 1,314 SF of office space. +-The unit mix for the proposed development plan is to build six (6) 1-bed/1-bath units, ten (10) 2-bed/1-bath units, and six (6) 2-bed/2-bath units. The plan also includes twenty-two (22) on-site parking spaces that will generate an estimated $4,500 a year in additional income.
    Exterior Features

    Garage Spaces 22.00 Lot Features Front YardLawn Lot Size Source Assessor Lot Size Units Square Feet Parking Total 22.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Common Area

    Property Features

    Additional Parcels Description 7357-024-0077357-024-007 Additional Parcels YN Yes Building Area Units Square Feet Cap Rate 3.66 Community Features Sidewalks Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 1200.00 Gross Income 707712.00 Gross Multiplier 17.75 Gross Scheduled Income 729600.00 Insurance Expense 10934.00 Land Lease YN No Laundry YN Yes Maintenance Expense 21888.00 Net Operating Income 473648.00 New Construction YN No New Taxes Expense 145962.00 Number Of Separate Electric Meters 22 Number Of Separate Gas Meters 22 Number Of Separate Water Meters 1 Number Of Units Leased 0 Operating Expense 234064.00 Other Expense 17600.00 Other Expense Description Utility Professional Management Expense 36480.00 Rent Control YN No Senior Community YN No Sewer None Special Listing Conditions Standard Total Actual Rent 0.00 Total Expenses 234064.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source None Year Built Source Assessor Zoning Tomr-Of

    Listing provided courtesy of Brett Lyon of Lyon Stahl Investment Real Estate, Inc. and J.Woody Stahl of Lyon Stahl Investment Real Estate, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-22T13:28:59.907. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

     
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