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Key Details
Sold Price $11,628,429
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 38,126 sqft
Price per Sqft $304
MLS Listing ID 24393183
Sold Date 10/14/24
Bedrooms 73
HOA Y/N No
Year Built 1964
Lot Size 0.821 Acres
Property Description
The Anza South Apartments is a 34-unit, legacy asset situated in the West Torrance area of the South Bay and located on the desirable Anza Ave corridor. The property presents a massive value-add opportunity for experienced investors to enhance their returns through strategic improvements and renovations. There is a proven demand for best-in-class renovated apartments to make up for the lack of new construction in the Torrance market. Additionally, a low velocity sales market, combined with an aging inventory and high barrier to entry for new construction continue to increase investor demand for larger properties with strong value-add opportunities. The limited stock, low vacancy rates and the affordability gap between buying and renting ensure a consistent demand for renovated units. Strong economic drivers and booming construction sector, point towards economic and rent growth. Lastly, the property benefits from access to the best health care in the South Bay and the #2 school district in LA County, making it highly desirable for families and individuals. The properties offer a compelling investment proposition with multiple factors contributing to their potential success.
Location
State CA
County Los Angeles
Area 131 - West Torrance
Zoning TORR-MH
Interior
Heating None
Cooling None
Fireplace No
Exterior
Garage Garage
Parking Type Garage
Total Parking Spaces 36
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7524027031
Special Listing Condition Standard
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Bought with John Barbie • John Barbie, Broker