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3929 W 242nd St
Torrance, CA 90505
The Palms · Multifamily Property For Sale
·
48 Units
PROPERTY FACTS
| No. Units | 48 | Building Size | 36,096 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1961 |
| Building Class | C | Parking Ratio | 1.33/1,000 SF |
| Lot Size | 1.03 AC | ||
| Zoning | TOCR-MH - Traditional Neighborhood and Manufactured Homes | ||
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 36,096 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | TOCR-MH - Traditional Neighborhood and Manufactured Homes |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
SITE AMENITIES
- Courtyard
ABOUT 3929 W 242ND ST , TORRANCE, CA 90505
The Palms is a 48 unit apartment complex located just two blocks South of Pacific Coast Highway (PCH) in the Walteria neighborhood of South Torrance at the foothills of the Palos Verdes Peninsula immediately adjacent to Palos Verdes Estates and Rolling Hills Estates. Just 2 miles due west is one of Southern California’s most popular beaches, Redondo Beach and Redondo Village (Redondo’s Downtown Main Street of retail shops and eateries), allowing The Palms residents to enjoy all the benefits of living in a beach city. SEE ATTACHED OFFERING MEMORANDUM FOR MORE DETAILS. An astute investor will realize the benefits of owning an asset that is essentially in a beach city, without paying the premium of a beach city asset. The median household income within a 1, 3 and 5 mile radius of the property ranges from $80,000 to $87,000 per year. Five streets to the south, the average annual income of Palos Verdes Estates residents is $245,000 and a ranking of the 38th wealthiest city in the United States according to Bloomberg News.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 4 | $2,363 | 1,094 |
| 2+1 | 6 | $2,100 | 980 |
| 1+1 | 38 | $1,800 | 680 |
PROPERTY TAXES
| Parcel Number | 7534-006-020 | Improvements Assessment | $10,824,321 |
| Land Assessment | $6,494,592 | Total Assessment | $17,318,913 |
PROPERTY TAXES
