Great opportunity to own this high-yielding 7-unit investment property in the highly desirable South Bay rental market. The property is conveniently located close to two major freeways (the 110 and the 405). It's just 15 minutes to LAX and 10 minutes to the beaches, and just a few minutes to the popular shopping, dining, and entertainment destinations in Old Town Torrance. All the units have 2 bedrooms and 1 bathroom each and are individually metered for electricity and gas. There are 14 available parking spots on the premises, and a coin-operated on-site laundry owned by the owner and which generates an additional $1300 revenue annually. Actual combined monthly rent is $10,088. Rents are due for an annual increase of 4% but have not yet been increased due to COVID-19 restrictions. When increased, this will boost rental income even further. All units are fully occupied, and tenants are currently on a month-to-month lease. All tenants are paying. There are no Section 8 tenants. The building is in excellent condition. The owner spent over $80,000 last year on the City of LA parking lot earthquake retrofit. All but one of the units were upgraded in the past two years, and the roof was replaced only last year. Cap Rate is 4.5%, in line with the average Cap Rate for both Los Angeles city and the South Bay area of 4.5%. *TENANTS DO NOT KNOW THAT THE PROPERTY IS LISTED FOR SALE. PLEASE DO NOT DISTURB TENANTS.*
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