24454 Park St, Torrance, CA 90505

Property Description

MUST-SEE! Finally the most desired property by both investors and homeowners HIT the market. This Move-In Ready property is on a PRIMARY LOCATION and CLOSE TO HIGHEST RANKING Walteria Elementary, Richardson Middle and South High School. This property, with one of the LARGEST LOT in this area, provides UNLIMITED GROWTH POTENTIAL to be sold at much HIGHER PRICE! We project each unit will pull approximately $3,000-$3,500 in monthly rent, making for a sky-high pro forma total cap rate over 6%. In addition to the existing structures, the preliminary plan can be provided 1) front unit: a 2-story with an additional 632 SF with the new garage and 2) second unit: a 2-story with a 474 SF addition. We project 2 new construction would add an approximate total of $7000 a month in income to the property and over $2,000,000 in value! Nearby property with smaller lot has been recently sold for $1,400,000! Also great for Airbnb business. One unit is already occupied by tenant. Duplex is two different units, each unit with 2beds and 1bath. The front unit, 768 sqft, is FULLY remodeled with Contemporary style in 2021. The second unit, 1026 sqft, is a Ranch style with cozy design, and is currently tenant occupied. New Gas Pipe has been completely replaced in June 2021. PROPERTY IS TO BE SOLD AS-IS.