2830 235th St 15 Unit Apartment Building $8,499,000 ($566,600/Unit) 4.29% Cap Rate Torrance, CA 90505

Marcus & Millichap is pleased to present to market the stunning partially renovated apartment complex located at 2830 West 235th Street in Torrance, California. The 15-unit complex offers a highly desirable mix of six two-bed/two-bath townhomes and nine two-bed/two-bath traditional units, all with spacious floor plans. The units surround a newly landscaped courtyard with furnishings for tenants’ enjoyment, and the property also offers ample garage parking and controlled access.
2830 West 235th Street boasts an extensive list of major recent improvements: seven units have been completely renovated and feature new flooring, cabinets, countertops, appliances, in-unit laundry, and new fixtures. Exterior updates include new exterior paint, new landscaping (including complete removal and replacement of irrigation system), fencing, signage, courtyard furnishings and lighting fixtures.
The property is located just over a block south of Hickory Park and Hickory Elementary School and conveniently near shopping and restaurants at Torrance Crossroads. This desirable inland South Bay rental market is popular for its strong tenant base and proximity to amenities and beach cities.
With its excellent condition and sought-after unit mix, 2830 West 235th Street is an exciting acquisition opportunity in a strong rental market.