Torrance, CA 90503,21010 Anza AVE
Torrance, CA 90503,21010 Anza AVE
Torrance, CA 90503,21010 Anza AVE
Torrance, CA 90503,21010 Anza AVE
Torrance, CA 90503,21010 Anza AVE
Torrance, CA 90503,21010 Anza AVE
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$11,628,429

$12,400,000

6.2%
Est.Price: ?

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Est. payment /mo

73 Beds

64 Baths

38,126 SqFt


SOLD DATE : 10/14/2024

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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California Regional MLS (CRMLS)
Listed by Steffan Braunlich • Berkadia
Bought with John Barbie • John Barbie, Broker
agent-avatar

michelle@michellehomesellingteam.com

515 S Myrtle Ave, Monrovia, CA, 91016, USA

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