1514 West 205th Street

Torrance, CA 90501

$1,725,000
Last Sold Price
14
Beds
7
Baths
4,466 Sq. Ft.
$386 / Sq. Ft.
4,466
Sq. Ft.
$386
per Sq. Ft.

Description

Great opportunity to own this high-yielding 7-unit investment property in the highly desirable South Bay rental market. The property is conveniently located close to two major freeways (the 110 and the 405). It's just 15 minutes to LAX and 10 minutes to the beaches, and just a few minutes to the popular shopping, dining, and entertainment destinations in Old Town Torrance. All the units have 2 bedrooms and 1 bathroom each and are individually metered for electricity and gas. There are 14 available...Great opportunity to own this high-yielding 7-unit investment property in the highly desirable South Bay rental market. The property is conveniently located close to two major freeways (the 110 and the 405). It's just 15 minutes to LAX and 10 minutes to the beaches, and just a few minutes to the popular shopping, dining, and entertainment destinations in Old Town Torrance. All the units have 2 bedrooms and 1 bathroom each and are individually metered for electricity and gas. There are 14 available parking spots on the premises, and a coin-operated on-site laundry owned by the owner and which generates an additional $1300 revenue annually. Actual combined monthly rent is $10,088. Rents are due for an annual increase of 4% but have not yet been increased due to COVID-19 restrictions. When increased, this will boost rental income even further. All units are fully occupied, and tenants are currently on a month-to-month lease. All tenants are paying. There are no Section 8 tenants. The building is in excellent condition. The owner spent over $80,000 last year on the City of LA parking lot earthquake retrofit. All but one of the units were upgraded in the past two years, and the roof was replaced only last year. Cap Rate is 4.5%, in line with the average Cap Rate for both Los Angeles city and the South Bay area of 4.5%. Tenants do not know that the property is listed for sale. Please do not disturb tenants.
  1. Listed by Adeyanju Ajetunmobi • DRE #01717945 • Brokerage DRE #01345054 • Berkshire Hathaway HomeServices California Properties

Property Details for 1514 West 205th Street

Parking Spaces Total
14
Private Pool
No
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Lot Size Dimensions
7005
Living Area
4466
Assessor Parcel Number
7351-014-013

Location

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Adeyanju Ajetunmobi, DRE #01717945

Sold By NONMEMBER MRML, General NONMEMBER, DRE #00000001

Add your commute
LISTING UPDATED: 03/09/2021 07:06 AM

Property Details for 1514 West 205th Street

StatusClosed
MLS #SB20240955
Days on Market28
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.16 AC / 7,005 SF
CountyLos Angeles County

Location

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Adeyanju Ajetunmobi, DRE #01717945

Sold By NONMEMBER MRML, General NONMEMBER, DRE #00000001

Add your commute

Building Information for 1514 West 205th Street

Stories2Residences-Year Built1958Building Size-Lot Size0.16 AC / 7,005 SF

Payment Calculator

$11,358 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,414

Property Taxes

$1,944

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1514 West 205th Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $122,332
  • Gross Scheduled Income: $121,050
  • Vacancy Allowance: 3632
  • Vacancy Allowance Rate: 3
  • Net Operating Income: $77,804
  • Laundry Income: $1,282
  • Cap Rate: 4.5
  • Financing: Cash
Expense Details
  • Operating Expense: $40,896
  • New Taxes Expense: $21,875
  • Insurance Expense: $2,200
  • Maintenance Expense: $9,600
  • Professional Management Expense: $5,496
  • Trash Expense: $800
  • Water Sewer Expense: $3,600
  • Total Expenses: $40,896
Tax / Assessment Info
  • Tax Rate: 1.25
  • Tax Year: 2019
  • Tax Annual Amount: $14,114
  • Tax Block: 53
  • Tax Tract Number: 4983
  • Tax Lot: 53
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Own
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 7
  • Open Other Spaces Total: 7
  • Parking Garage Spaces: 0
  • Carport Spaces: 7
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • 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: $1,309
  • Unit Type Total Rent: $1,309
  • Unit Type Pro Forma: 1800
  • Unit Type Area: 638
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • 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: $1,451
  • Unit Type Total Rent: $1,451
  • Unit Type Pro Forma: 1800
  • Unit Type Area: 638
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • 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: $1,550
  • Unit Type Total Rent: $1,550
  • Unit Type Pro Forma: 1800
  • Unit Type Area: 638
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • 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: $1,550
  • Unit Type Total Rent: $1,550
  • Unit Type Pro Forma: 1800
  • Unit Type Area: 638
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • 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: $1,586
  • Unit Type Total Rent: $1,586
  • Unit Type Pro Forma: 1800
  • Unit Type Area: 638
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • 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: $1,451
  • Unit Type Total Rent: $1,451
  • Unit Type Pro Forma: 1800
  • Unit Type Area: 638
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • 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: $1,191
  • Unit Type Total Rent: $1,191
  • Unit Type Pro Forma: 1800
  • Unit Type Area: 638
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 7
Unit Information
  • Number Of Units Leased: 7
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1

Property History for 1514 West 205th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1514 West 205th Street

Taxable ValueLand$1,040,400Additions$754,540Total$1,794,940
Tax Record2023$23,334 ($1,944 / month)
Home Facts
Total Finished SqFt4,466 SqFtAbove Grade Finished SqFt4,466 SqFtLot Size7,005 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningLARD1.5CountyLOS ANGELESAPN7351-014-013

Schools near 1514 West 205th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 7 to 12
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Nathaniel Narbonne Senior High School
Public9 to 12

New Millennium Secondary
Charter9 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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Adeyanju Ajetunmobi, DRE #01717945

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.