NEW PRICE! 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.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
