3711 Artesia Blvd is a 14 unit property located in highly sought after Torrance. More specifically it is located in North Torrance with convenient access to the 405 and 91 freeways. No rent control. It is across the street from McMaster Park and less than a mile away from the South Bay Galleria. The unit mix consists of 13-2BR/1BA and 1-1BR/1BA. At stabilized market rents the asset should provide the new owner with a 5% cash on cash returnâ€¦.impossible to find in this type of a South Bay location. The subject property was originally built in 1963 and has been continuously updated. Total building square footage is almost 10,800 sq ft (770 sq ft unit average) and sits on a 13,225 sq ft lot. The plumbing is copper, many of the windows have been replaced with new dual panes, and 8 of the 14 units have renovated interiors. The exterior has a modern paint scheme and overall the asset has been very well maintained by current ownership with no deferred maintenance. Landscape is drought friendly keeping water usage and monthly gardener expenses minimal. There is an onsite laundry facility and TONS of parking. 6 of the 15 garages are leased for additional income ranging between $100-$150 per garage. In addition to the 15 garages there are also 17 open spaces. In an area where parking is a premium, it is very rare and a huge amenity to have over a 2:1 ratio. 3711 Artesia Blvd represents a good opportunity for an astute investor or the perfect upleg for an exchange buyer.
Listing courtesy of Re/Max Commercial & Investment.
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