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24065 Ocean Avenue

Torrance, CA 90505
  • $17,999,999
  • STATUS: Pending
  • ON SITE: 39 Days
  • MLS #: SB24247906
Pending
UPDATED: 60 min ago
$17,999,999
  • 0
    BEDS
  • 1.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1962
County:

School Ratings & Info

Listing Agent(s): Theodore Gardner of Gardner (310-377-9571)


Description

**Rare Opportunity: Prime Multi-Family Investment Property in Torrance!** For the first time in nearly 40 years, "Ocean House," a meticulously maintained 54-unit property, is available in Torrances most desirable neighborhood. This property offers exceptional amenities, including a solar-heated swimming pool surrounded by lush landscaping, serene interior gardens, and updated on-site laundry facilities, delivering both comfort and convenience for residents. The thoughtfully designed unit mix features one-bedroom units and two-bedroom units, catering to a wide range of renters and budgets. Located in South Torrance, Ocean House offers proximity to pristine beaches, shopping, dining, parks, top-rated schools, and major transportation routes, combining the convenience of urban living with the tranquility of a suburban setting. The property has been meticulously maintained, with a new roof installed in May 2023, reflecting its excellent upkeep and attention to detail. **Disclaimer:** The information provided is subject to change.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2025-01-20T09:31:13.953. 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 deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/158698467
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24065 Ocean Avenue Torrance, CA 90505

  • Price: $17,999,999
  • Status: Pending
  • On Site: 39 Days
  • Updated: 60 min ago
  • MLS #: SB24247906
0
Beds
0
Baths
0
½ Baths
1.27
Acres
1962
Built
Neighborhood:
125 - Walteria
County:
Los Angeles
Area:
125 - Walteria
Property Description
**Rare Opportunity: Prime Multi-Family Investment Property in Torrance!** For the first time in nearly 40 years, "Ocean House," a meticulously maintained 54-unit property, is available in Torrances most desirable neighborhood. This property offers exceptional amenities, including a solar-heated swimming pool surrounded by lush landscaping, serene interior gardens, and updated on-site laundry facilities, delivering both comfort and convenience for residents. The thoughtfully designed unit mix features one-bedroom units and two-bedroom units, catering to a wide range of renters and budgets. Located in South Torrance, Ocean House offers proximity to pristine beaches, shopping, dining, parks, top-rated schools, and major transportation routes, combining the convenience of urban living with the tranquility of a suburban setting. The property has been meticulously maintained, with a new roof installed in May 2023, reflecting its excellent upkeep and attention to detail. **Disclaimer:** The information provided is subject to change.
Exterior Features

Carport Spaces 52 Carport YN Yes Entry Level 1 Entry Location On Ocean Ave. Lot Features Corner LotLot Over 40000 SqftLandscapedLevelNear Park Number Of Separate Electric Meters 54 Parking Features AssignedControlled Entrance Parking Total 54 Pool Features CommunityFencedIn Ground Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 5 Common Interest Community Apartment Community Features ParkPool Current Financing AssumableConventional Electric Expense 6418 Exclusions Statue Fuel Expense 17619 Garage YN Yes Gross Income 1438884 Gross Scheduled Income 1464040 Inclusions Owned laundry equipment Insurance Expense 21800 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Seller Reserved Listing Service Full Service Listing Terms Contract Maintenance Expense 47447 Net Operating Income 903142 New Construction YN No New Taxes Expense 207464 Number Of Separate Gas Meters 54 Number Of Separate Water Meters 1 Number Of Units Leased 54 Operating Expense 503343 Pool Expense 5100 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardTrust Tenant Pays Cable TVElectricityGas Total Actual Rent 119907 Trash Expense 17200 Vacancy Allowance 57555 Water Sewer Expense 31300 Water Source Public Zoning TOCR-MH



Based on information from California Regional Multiple Listing Service, Inc. as of 2025-01-20T09:31:13.953. 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 deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
 
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The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent(s): Theodore Gardner of Gardner (310-377-9571)