SERIOUS PRICE REDUCTION: Fantastic opportunity to purchase this "shovel ready" 4 plex in the City of Torrance. Currently a 3-bedroom and 1-bathroom Single Family Home that would require demolition to build a beautiful new modern 4 plex Apartment building with individual roof decks. Unit # 1: Total Living area: 1460 SF (4 beds: 3,5 baths) Unit # 2: Total Living area: 1460 SF (4 beds; 3,5 baths) Unit # 3: Total Living area: 1460 SF (4 beds; 3,5 baths) Unit # 4: Total Living area: 1460 SF (4 beds; 3,0 baths) Total living Area: 5840 SF *Garage: 650 SF x 4 = 2600 SF *Roof Deck: 215 SF x 4 = 860 SF New Construction means all units available to rent with no rent control and you'd be able to get market rents of $4,500 per unit is very attractive to landlords. Build it, live in one and rent the others and you'd pay less a month as the owner rather than just renting. The numbers pencil out. Purchase at 988k build for an additional 1.6M totaling 2.58M - The value of the property would be 3.78M based on performance. (30% operation costs, 4% Cap Rate) You'd walk into a property with $1.2M in equity and own a beautiful 2024 apartment building that performs like a 15 unit under rent control. Thank you for taking the time and feel free to reach out with any questions.
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