1622 Gramercy Avenue
Torrance Condominium for sale
Excellent and unique opportunity in downtown Torrance. Mixed-use building with 6 residential units, 1 commercial suite, 6 two-car garages; optional, can be converted to ADUs. This property has 7 separate deeds and APNs, updated budgets, bylaws and CC&Rs. Market rents average $4750 per unit; approximately $400,000 per year income. Property is priced at approximately 5.141% cap. Property has been completely upgraded throughout. Commercial tenant at ground floor has two years left on lease. The commercial suite comes with sign rights and permissible uses for office, medical, restaurants and animal services. This building is a perfect investment opportunity to buy 7 separate units in bulk. The owner of the property has the individual units on the market, but will give serious consideration to a bulk sale transaction.