24065 Ocean Avenue

Torrance, CA 90505

$18,000,000
Last Sold Price
11
Beds
92
Baths
48,156 Sq. Ft.
$374 / Sq. Ft.
48,156
Sq. Ft.
$374
per Sq. Ft.

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 Torrance’s 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...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 Torrance’s 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.
  1. Listed by Theodore Gardner • DRE #00328734 • Brokerage DRE #00328734 • Gardner • 310-489-1410

Property Details for 24065 Ocean Avenue

Parking Spaces Total
54
Private Pool
No
Total Units
54.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
48156
Assessor Parcel Number
7534-006-018
Property Attached YN
true
LISTING UPDATED: 02/21/2025 08:57 AM

Property Details for 24065 Ocean Avenue

StatusClosed
MLS #SB24247906
Days on Market22
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
CountyLos Angeles County

Building Information for 24065 Ocean Avenue

Building/Complex24065 Ocean AveFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1962Building Size-

Property Information for 24065 Ocean Avenue

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $1,438,884
  • Gross Scheduled Income: $1,464,040
  • Vacancy Allowance: 57555
  • Gross Operating Income: $1,406,484
  • Net Operating Income: $903,142
  • Laundry Income: $17,057
  • Other Income Description: Pet rent
  • Other Income 1: $8,098
  • Cap Rate: 5.0
  • Current Financing: Assumable, Conventional
  • Financing: Assumable
Expense Details
  • Operating Expense: $503,343
  • New Taxes Expense: $207,464
  • Gardener Expense: $13,596
  • Fuel Expense: $17,619
  • Pool Expense: $5,100
  • Electric Expense: $6,418
  • Insurance Expense: $21,800
  • Maintenance Expense: $47,447
  • Professional Management Expense: $49,227
  • Trash Expense: $17,200
  • Water Sewer Expense: $31,300
  • Total Expenses: $50,343
Tax / Assessment Info
  • Tax Tract Number: 651...
  • Tax Census Tract: 6513.02
  • CFD/Mello-Roos Fee: $6,379
  • Tax Lot: 9
Community / Development
Community / Development
  • Community Features: Park
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Own
Exterior Features
  • Entry Location: On Ocean Ave.
  • Pool Features: Community, Fenced, In Ground
  • Pool Description: Fenced, In Ground
  • Pool: Below Ground, Community/Common
Green Info
  • Walk Score: 88
Land/Lot Info
  • Lot Features: Corner Lot, Landscaped, Lot Over 40000 Sqft, Level, Park Nearby
  • Number Of Units: 54
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Assigned, Controlled Entrance
  • Parking Garage Spaces: 2
  • Carport Spaces: 52
  • Parking Features: Assigned, Controlled Entrance
Unit Information
Unit 1
  • Unit Type Units Total: 14
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 14
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,930
  • Unit Type Total Rent: $27,022
  • Unit Type Pro Forma: 30100
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,905
  • Unit Type Total Rent: $1,905
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,295
  • Unit Type Total Rent: $4,589
  • Unit Type Pro Forma: 5600
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 34
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 34
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,311
  • Unit Type Total Rent: $78,576
  • Unit Type Pro Forma: 98090
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,258
  • Unit Type Total Rent: $4,515
  • Unit Type Pro Forma: 6150
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,300
  • Unit Type Total Rent: $3,300
  • Unit Type Pro Forma: 3300
  • Unit Type Type: 6
Unit Information
  • Number Of Units Leased: 54
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 54
  • Number Of Separate Gas Meters: 54
  • Number Of Separate Water Meters: 1
  • Number With Range: 54
  • Number With Disposal: 54

Property History for 24065 Ocean 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 24065 Ocean Avenue

Taxable ValueLand$676,332Additions$2,049,660Total$2,725,992
Tax Record2024$38,191 ($3,183 / month)
Home Facts
Total Finished SqFt48,156 SqFtAbove Grade Finished SqFt48,156 SqFtLot Size55,059 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningTOCR-MHCountyLOS ANGELESAPN7534-006-018

Schools near 24065 Ocean 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 - 9 to 12
Rating
School
Distance
Riviera Elementary School
PublicK to 5

Edward J. Richardson Middle School
Public6 to 8

South High School
Public9 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 Gardner, Theodore Gardner, DRE #00328734

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.