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$1,380,000
Added on 8/14/19*
1611 W 218th Street
Torrance, CA 90501

10,890 SqFt Lot
0.2500 Acres
Land


Status:Active
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.
Basics
Property Type:   Land
Lot Size:   10,890 SqFt Lot
Lot Acres:   0.2500 Acres
Neighborhood:   Harbor Gateway
MLS#:   819002344
     
Home Features
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Listing Agent: Tzu-Ning Chang    Listing Broker: Keller Williams Realty    Agent Phone: 6263819885    Broker Phone: 6262043300   

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