CBC Advisors is proud to present this 9,892-square foot, fourteen-unit apartment property located at 20329-20335 Denker Avenue in Torrance P.O., California. Situated on two separate lots totaling 15,001-square feet, the property consists of two buildings with an outstanding unit mix of two three-bedroom/two-bathroom units, four two-bedroom/one-bathroom units, six one-bedroom/one-bathroom units and two studio/one-bathroom units. There is a spacious common area courtyard and ample carport parking. All the roofs were replaced in 2011 and the buildings contain full copper plumbing. 20329 Denker Avenue is individually metered for gas and electricity, and can have rents raised by 3% annually. 20335 Denker Avenue is master-metered and therefore qualifies for rent increases of 5% annually.
20329-20335 Denker Avenue provides an investor with a true value-add opportunity in the dense Torrance P.O. rental market. The current rents are well below market and present over 40% in legitimate rental upside. The financials project a pro-forma cap rate of 7.38%, pro-forma grm of 9.36, and pro-forma cash-on-cash return of 9.40%.
This rent controlled asset is located in close proximity to the many neighboring employment centers such as Harbor - UCLA Medical Center and the Honda Service Center. The property is of walking distance to the many retails shops and grocery stores of Western Avenue and Torrance Boulevard. Bordered by the 110 and 405 Freeways, the investment allows for immediate transit into and out of Torrance.
