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Map
$2,022,572*
●
Land -
Off Market
1611 W 218th Street
Torrance, CA 90501
Studio
0 Bath
$1,242,000 - $1,518,000
Reference Base Price*
46.56%
Since Oct 1, 2019
National-US
Primary Model
About This Property
Located in Torrance, California, this development opportunity has
been entitled for an 18 unit apartment complex with all 2 Bed / 2
Bath units. Located in a Qualified Opportunity Zone, this
investment is ideal for an investor looking to build and hold the
asset for over 10 years to minimize capital gains liability (Buyer
to confirm), or an investor wishing to realize return on investment
upon completion/stabilization. With 16 market rate and 2 very low
income units, the Seller has taken two on-menu incentives to add
value to the build. After closing of escrow, the Buyer will have
the obligation of finalizing plan check and completing the
permitting process for "ready-to-issue" status. Currently, there is
a triplex on site with a monthly annual income of $3,818.75. With
the current income, the builder / developer will have additional
income to off-set final permitting costs. All tenant information
will be provided to a potential Buyer upon a written letter of
intent or offer.With proximity to the 110 Freeway, this asset is
centrally located to Downtown Los Angeles and the Beach Areas.
Furthermore, the property is within proximity retailers,
restaurants, and parks.
Unit Size
-
Days on Market
-
Land Size
0.25 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
1938
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Apr 22, 2020 | No longer available | - | |
No longer available | |||
Mar 10, 2020 | Listed | $1,280,000 | |
Listed | |||
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NEW PRICE! Located in Torrance, California, this development
opportunity has been entitled for an 18 unit apartment complex with
all 2 Bed / 2 Bath units. Located in a Qualified Opportunity Zone,
this investment is ideal for an investor looking to build and hold
the asset for over 10 years to minimize capital gains liability
(Buyer to confirm), or an investor wishing to realize return on
investment upon completion/stabilization. With 16 market rate and 2
very low income units, the Seller…
|
|||
Sep 8, 2019 | No longer available | - | |
No longer available | |||
Aug 15, 2019 | Relisted | $1,380,000 | |
Relisted | |||
Jul 1, 2019 | No longer available | - | |
No longer available |
Show More
Property Highlights
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
03/10/2020
|
|
Studio
|
-
|
-
|
$1,280,000
Studio
-
|
-
-
|
-
|
-
|
05/22/2019
|
|
Studio
|
-
|
-
|
$1,580,000
Studio
-
|
-
-
|
-
|
-
|