• Price$1,380,000
  • Acres0.25

1611 W 218th Street, Torrance

Located in Torrance, California, this development opportunity has been entitled for an 18 unit apartment complex with all 2 Bed / 2 Bath units. Located in a Qualified Opportunity Zone, this investment is ideal for an investor looking to build and hold the asset for over 10 years to minimize capital gains liability (Buyer to confirm), or an investor wishing to realize return on investment upon completion/stabilization. With 16 market rate and 2 very low income units, the Seller has taken two on-menu incentives to add value to the build. After closing of escrow, the Buyer will have the obligation of finalizing plan check and completing the permitting process for 'ready-to-issue' status. Currently, there is a triplex on site with a monthly annual income of $3,818.75. With the current income, the builder / developer will have additional income to off-set final permitting costs. All tenant information will be provided to a potential Buyer upon a written letter of intent or offer.With proximity to the 110 Freeway, this asset is centrally located to Downtown Los Angeles and the Beach Areas. Furthermore, the property is within proximity retailers, restaurants, and parks.

Essential Information

  • MLS® #819002344
  • Price$1,380,000
  • Acres0.25
  • TypeLot-Land
  • Sub-TypeLots and Land
  • StatusActive

Additional Information

  • Date ListedMay 20th, 2019
  • Days on Market41
  • ZoningLAR3

Community Information

  • Address1611 W 218th Street
  • AreaHarbor Gateway (122)
  • SubdivisionOther - OTHR
  • CityTorrance
  • CountyLos Angeles
  • StateCA
  • Zip Code90501

Listing Details

  • Listing AgentTzu-ning Chang(02028509)
  • Listing OfficeKeller Williams Realty
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Based on information from California Regional Multiple Listing Service, Inc. as of August 17th, 2019 at 10:12am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.