NOT LISTED FOR SALE

775 Portola Ave Torrance, CA 90501

East Torrance Neighborhood
8 Beds
8 Baths
3,650 Sq Ft
5,600 Sq Ft Lot

Last Sold May 08, 2024

Last sale price $1,695,750 $465 Per Sq Ft

21 Days on Market

About This Home

As of May 2024

775 Portola Ave is an amazing opportunity to own sixunits offered at only $282k/unit. The subject propertyhas over 50% upside in rental income. Whether you arelong term or a value-add investor, the subjectproperty is the perfect assets to help achieve yourinvestment goals.775 Portola Ave features a unit mix of (6) 1-Bed/1-Bath- each unit features 2 parking space (1 garage and 1tandem), as well as washer/dyer hookups. Once fullyrented for market and ADU is constructed ($300k), the propertywill operate at a 8.61% CAP and 7.64 GRM.This investment is located near Old Torrance- one ofthe more desirable pockets in Torrance. There aremany shops and restaurants close by, as well as DelAmo Shopping Center. One of the highlights ofTorrance is its excellent education system. The city ishome to several top-rated public and private schools,providing residents with quality education options fortheir children.

Last Agent to Sell the Property

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 310-259-7556 License #02035763 Listed on: 04/10/2024

Lyon Stahl Investment Real Estate, Inc.

Co-Listed By

Molly First

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 310-259-7556 License #02065583

Last Buyer's Agent

Daniel Shieh

Lyon Stahl Investment Real Estate, Inc. License #01978847

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 5,600 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 6 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 3,650 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Legal Lot and Block 14 / 85
  • Tax Tract Number 1234
  • Assessor Parcel Number 7354005013
  • $1,418 per year additional tax assessments

Community Details

Overview

  • 6 Units

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $39,058
  • Gross Income $114,780
  • Net Operating Income $72,279

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Parking

6

Listing Details

  • CapRate: 4.26
  • Price Per Unit: 282500
  • Property Attached: Yes
  • Zoning: TORR-MD
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7354005013
  • Year Built: 1957
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Front
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 464.59

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 5600.00
  • Lot Size Acres: 0.1286

Multi Family

  • Gross Income: 114780.00
  • Gross Multiplier: 14.77
  • Gross Scheduled Income: 114780.00
  • Lot Size Area: 5600.0000 Square Feet
  • Net Operating Income: 72279.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 39058.00
  • Rent Control: Yes
  • Total Expenses: 39058.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Block: 85
  • Tax Census Tract: 6509.01
  • Tax Lot: 14
  • Tax Tract Number: 1234
  • TaxOtherAnnualAssessmentAmount: 1418.00

Range of Values:

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Average Value
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List Price
Sold Price
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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
05/08/2024 05/08/24 Sold $1,695,750 0.0% $465 / Sq Ft
04/10/2024 04/10/24 For Sale $1,695,000 -- $464 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Cameron Samimi

    Seller's Agent in 2024

    Cameron Samimi

    Lyon Stahl Investment Real Estate, Inc.

    (310) 259-7556

    1 in this area

    187 Total Sales

    Cameron Samimi
    Section Image
  • Molly First

    Seller Co-Listing Agent in 2024

    Molly First

    Lyon Stahl Investment Real Estate, Inc.

    (310) 913-2488

    1 in this area

    17 Total Sales

    Molly First
    Section Image
  • Daniel Shieh

    Buyer's Agent in 2024

    Daniel Shieh

    Lyon Stahl Investment Real Estate, Inc.

    (310) 425-9838

    1 in this area

    39 Total Sales

    Daniel Shieh
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB24070404

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Torrance 90501 East Torrance

775 Portola Ave, Torrance, CA

This home is located at 775 Portola Ave, Torrance, CA 90501 since 10 April 2024. This property was built in 1957. 775 Portola Ave is a home located in Los Angeles County with nearby schools including Fern Elementary School, Madrona Middle School, and Torrance 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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