NOT LISTED FOR SALE

1437 W 224th St Torrance, CA 90501

Harbor Gateway Neighborhood
6 Beds
5 Baths
3,050 Sq Ft
9,000 Sq Ft Lot

Last Sold May 05, 2016

Last sale price $820,000 $269 Per Sq Ft

57 Days on Market

Highlights

  • No Units Above
  • No HOA
  • 1-Story Property
  • Fireplace in Bathroom
  • Laundry Room

About This Home

As of May 2016

Great 5 unit apartment opportunity, located in the heart of the Torrance & Harbor City Submarket, surrounded by single family homes, support by local retail shopping, parks, and several schools. The area is known for having few vacancies due to the high demand for rentals in the immediate area.

The property has a lot size of 9,016 SF and 3,050 of rentable SF. The building consists of five single story apartment units, featuring a unit mix of one - 2 Bedroom/1 Bath unit of approximately 650 SF of livable space, and four - 1 Bedroom/1 Bath units of approximately 600 SF of livable space, with patios for each unit.

The property enjoys incredibly low expenses by being individually metered for gas and electric, with no maintenance issues or problems. There is ample parking with both open surface and car port parking spaces located at the rear of the property, with owner owned laundry facilities for additional income and cash flow.

Last Agent to Sell the Property

Kevin Russell

Gibraltar Investment Partners Inc License #01363068 Listed on: 01/22/2016

Last Buyer's Agent

LISA LIU

High Ten Partners, Inc. License #01367753

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1958

Lot Details

  • 9,000 Sq Ft Lot
  • No Units Above
  • No Units Located Below
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • Property Attached

Interior Spaces

  • 3,050 Sq Ft Home
  • 1-Story Property
  • Electric Fireplace
  • Gas Fireplace
  • Fireplace in Kitchen

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms
  • Fireplace in Bathroom

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Parking

  • 20 Parking Spaces
  • 5 Carport Spaces
  • Parking Available
  • Driveway
  • Uncovered Parking

Additional Features

  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 3 / 1
  • Tax Tract Number 3371
  • Assessor Parcel Number 7347003017

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Amenities

  • Laundry Facilities

Building Details

  • 5 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 5 Separate Water Meters
  • Gardener Expense $600
  • Insurance Expense $1,800
  • Maintenance Expense $850
  • Trash Expense $1,656
  • Water Sewer Expense $3,754
  • New Taxes Expense $11,563
  • Gross Income $5,272
  • Net Operating Income $42,700

Property Details

Home Type

Multi-Family

Year Built

Built in 1958

Lot Details

0

Listing Details

  • CapRate: 5.06
  • Price Per Unit: 172000
  • Property Attached: Yes
  • Water Sewer Expenses: 3754.00
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7347003017
  • Year Built: 1958
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 1
  • Entry Location: Ground Level With Steps
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Fireplace Features: Bath, Electric, Gas, Kitchen
  • Levels: One
  • Price Per Square Foot: 268.85

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 5.00
  • Parking: Yes
  • Parking Features: Covered, Driveway, Uncovered
  • Total Parking Spaces: 20.00

Utilities

  • Utilities: Electricity Available, Sewer Connected
  • Laundry: Yes
  • Laundry Features: Community
  • Trash Expense: 1656.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: Curbs, Sidewalks, Street Lights, Urban

Lot Info

  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 9000.00
  • Price Per Lot Square Foot: 91.11
  • Lot Size Acres: 0.2070

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 600
  • Average2 Bed Area: 650
  • Gross Income: 5272.00
  • Gross Multiplier: 13.59
  • Gross Scheduled Income: 63264.00
  • Insurance Expense: 1800.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 9000.0000 Square Feet
  • Maintenance Expense: 850.00
  • Net Operating Income: 42700.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 5
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 20535.00
  • Rent Control: Yes
  • Total Actual Rent: 4972.00

Tax Info

  • New Taxes Expense: 11563.00
  • Tax Block: 1
  • Tax Lot: 3
  • Tax Tract Number: 3371

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/05/2016 05/05/16 Sold $820,000 -11.4% $269 / Sq Ft
03/19/2016 03/19/16 Pending -- -- --
01/22/2016 01/22/16 For Sale $925,000 -- $303 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2016

    Kevin Russell

    Gibraltar Investment Partners Inc

  • L

    Buyer's Agent in 2016

    LISA LIU

    High Ten Partners, Inc.

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB16021817

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Torrance 90501 Harbor Gateway

1437 W 224th St, Torrance, CA

This home is located at 1437 W 224th St, Torrance, CA 90501 since 22 January 2016. This property was built in 1958. 1437 W 224th St is a home located in Los Angeles County with nearby schools including Meyler Street Elementary School, Alexander Fleming Middle School, and Nathaniel Narbonne Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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