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21010 Anza Ave Torrance, CA 90503
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Key Details
Sold Price $11,628,429
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 38,126 sqft
Price per Sqft $304
MLS Listing ID 24-393183
Sold Date 10/14/24
Bedrooms 73
Year Built 1964
Lot Size 0.821 Acres
Acres 0.8209
Property Description
The Anza South Apartments is a 34-unit, legacy asset situated in the West Torrance area of the South Bay and located on the desirable Anza Ave corridor. The property presents a massive value-add opportunity for experienced investors to enhance their returns through strategic improvements and renovations. There is a proven demand for best-in-class renovated apartments to make up for the lack of new construction in the Torrance market. Additionally, a low velocity sales market, combined with an aging inventory and high barrier to entry for new construction continue to increase investor demand for larger properties with strong value-add opportunities. The limited stock, low vacancy rates and the affordability gap between buying and renting ensure a consistent demand for renovated units. Strong economic drivers and booming construction sector, point towards economic and rent growth. Lastly, the property benefits from access to the best health care in the South Bay and the #2 school district in LA County, making it highly desirable for families and individuals. The properties offer a compelling investment proposition with multiple factors contributing to their potential success.
Location
State CA
County Los Angeles
Area West Torrance
Zoning TORR-MH
Rooms
Other Rooms None
Interior
Heating None
Cooling None
Equipment None
Exterior
Parking Features Garage
Garage Spaces 36.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with John Barbie, Broker