23870 Los Codona Avenue

Torrance, CA 90505

$4,225,000
Last Sold Price
3
Beds
18
Baths
11,738 Sq. Ft.
$360 / Sq. Ft.
11,738
Sq. Ft.
$360
per Sq. Ft.

Description

18 unit residential apartment building in prime Walteria/South Torrance area. Situated in a strong rental market, this well maintained building offers a mix of spacious 1 & 2 bedroom apartments with 1 studio & a bonus unit. -INCOME- Current gross scheduled income is $290,352/year. However, pro forma/market rents could bring the Gross scheduled income conservatively to around $425,000/year. -LAYOUT- Large 11,738 sqft building on a 17,440 sqft lot. 25 bedrooms in total with 19 bathrooms and a bonus,...18 unit residential apartment building in prime Walteria/South Torrance area. Situated in a strong rental market, this well maintained building offers a mix of spacious 1 & 2 bedroom apartments with 1 studio & a bonus unit. -INCOME- Current gross scheduled income is $290,352/year. However, pro forma/market rents could bring the Gross scheduled income conservatively to around $425,000/year. -LAYOUT- Large 11,738 sqft building on a 17,440 sqft lot. 25 bedrooms in total with 19 bathrooms and a bonus, 450 sqft studio that is currently being used for storage. 9 (1 bedroom/1 Bath), 8 (2 bedrooms/1 Bath) & 1 (Studio). Total of 18 garage spaces; 8 covered garages w/ auto door openers & 10 covered garages. Co-Op shared laundry room w/ 2 washing machines & 2 dryers. Rent includes trash & water while tenants pay electrical, gas, cable, etc. Each unit comes with a stove. -SCHOOLS- Top rated school district in the country; 10/10 South High school, 9/10 elementary and middle schools. -MAINTENANCE/UPDATES- Exceptionally Maintained throughout the years w/ a new roof in 2020, new dual pane windows & gutters throughout (2017), new sprinklers covering the entire lot (2017), water heater (2017), most individual fuse boxes are less than 10 years old, & exterior painting of entire building was completed in 2017. -LOCATION- Groceries, shopping, restaurants all within a 1 mile radius, 6 min drive to the Hollywood Riviera in Redondo Beach, 7 mins to the Pacific Ocean, 5 min drive to the Palos Verdes Peninsula & 25 mins to LAX airport. Centrally located in the heart of highly distinguished Walteria/South Torrance area & a rare opportunity to own a generational, top tier property!
  1. Listed by Brok Butcher • DRE #01880217 • Brokerage DRE #02017386 • Butcher Realty • 310 710-6387

Property Details for 23870 Los Codona Avenue

Parking Spaces Total
18
Private Pool
No
Total Units
18.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
11738
Assessor Parcel Number
7378-008-080
Property Attached YN
true
LISTING UPDATED: 11/06/2024 03:14 AM

Property Details for 23870 Los Codona Avenue

StatusClosed
MLS #PV24169147
Days on Market58
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1964
Lot Size0.40 AC / 17,440 SF
CountyLos Angeles County

Building Information for 23870 Los Codona Avenue

Stories2Residences-Year Built1964Building Size-Lot Size0.40 AC / 17,440 SF

Property Information for 23870 Los Codona Avenue

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas, Telephone
Income / Expense / Tax Details
Income Details
  • Gross Income: $290,352
  • Gross Scheduled Income: $290,352
  • Net Operating Income: $141,352
  • Gross Multiplier: 21.35
  • Cap Rate: 2.28
  • Financing: Cash
Expense Details
  • Operating Expense: $149,000
  • New Taxes Expense: $78,740
  • Gardener Expense: $1,920
  • Fuel Expense: $6,686
  • Pest Control Expense: $1,960
  • Electric Expense: $2,636
  • Insurance Expense: $4,303
  • Maintenance Expense: $8,000
  • Professional Management Expense: $24,000
  • Trash Expense: $17,934
  • Water Sewer Expense: $8,050
  • Supplies Expense: $300
  • Total Expenses: $140,289
Tax / Assessment Info
  • Tax Area: 9340
  • Tax Tract Number: 080
  • Tax Census Tract: 6512.22
  • Tax Lot: 16
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Interior Features: Storage
  • Room Type: Galley Kitchen, Living Room
Exterior Features
  • Entry Location: Ground Level
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 16-20 Units/Acre, Corner Lot
  • Number Of Units: 18
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 8
  • Carport Spaces: 10
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 9
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Actual Rent: $1,353
  • Unit Type Total Rent: $12,180
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Actual Rent: $1,545
  • Unit Type Total Rent: $10,816
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Actual Rent: $1,200
  • Unit Type Total Rent: $1,200
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 18
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 19
  • Number Of Separate Gas Meters: 19
  • Number Of Separate Water Meters: 1

Property History for 23870 Los Codona Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 23870 Los Codona Avenue

Taxable ValueLand$124,960Additions$412,155Total$537,115
Tax Record2024$9,655 ($805 / month)
Home Facts
Total Finished SqFt11,738 SqFtAbove Grade Finished SqFt11,738 SqFtLot Size17,436 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningTORR-MHCountyLOS ANGELESAPN7378-008-080

Schools near 23870 Los Codona Avenue

This home is within Torrance Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Joseph Arnold Elementary School
PublicK to 5

Calle Mayor Middle School
Public6 to 8

South High School
Public9 to 12

Gene Drevno Community Day School
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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Listing Courtesy of Butcher Realty, Brok Butcher, DRE #01880217

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.