1622 Gramercy Avenue

Torrance, CA 90501

$5,750,000
Last Sold Price
21
Beds
22
Baths
14,980 Sq. Ft.
$384 / Sq. Ft.
14,980
Sq. Ft.
$384
per Sq. Ft.

Description

Prime Location Building off the corner of Gramercy Ave. and Cravens Ave. in Old Torrance. This sale consists of 8 SEPARATELY DEEDED commercial and residential mix units with the main commercial store front being 1622 Gramercy Ave. In addition to the commercial unit, the remaining 7 are residential townhomes (6 -3bd/3ba; 1 - 3bd/4ba) , 3 with commercial tags. Each unit has their own two-car garage with alley access and outdoor space. Several units have AC, plus there is a shared outdoor courtyard...Prime Location Building off the corner of Gramercy Ave. and Cravens Ave. in Old Torrance. This sale consists of 8 SEPARATELY DEEDED commercial and residential mix units with the main commercial store front being 1622 Gramercy Ave. In addition to the commercial unit, the remaining 7 are residential townhomes (6 -3bd/3ba; 1 - 3bd/4ba) , 3 with commercial tags. Each unit has their own two-car garage with alley access and outdoor space. Several units have AC, plus there is a shared outdoor courtyard with a stylish fountain and a large lattice covered patio. Great investment opportunity of this newer built 2010 complex. When property was constructed, the HOA/CC&R’s were formed but never funded because it’s been owned as a whole. All 8-units are deeded separately and can be sold separately. As such, property is not subject to statewide rent control (subject to Buyer qualifying for the exemption). See supplements for floor plans & white report.
  1. Listed by Roger Hart • DRE #00625505 • Brokerage DRE #00931272 • Forecast Realty Inc.

Property Details for 1622 Gramercy Avenue

Parking Spaces Total
18
Private Pool
No
Cooling Type
Central Forced Air
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
14980
Assessor Parcel Number
7355-024-043

Location

Listing Courtesy of Forecast Realty Inc., Roger Hart, DRE #00625505

Sold By E Real Estate Corp., Dean Thomas, DRE #00711417

Add your commute
LISTING UPDATED: 12/29/2021 06:53 AM

Property Details for 1622 Gramercy Avenue

StatusClosed
MLS #SB21205029
Days on Market39
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2010
Lot Size0.25 AC / 11,069 SF
CountyLos Angeles County

Location

Listing Courtesy of Forecast Realty Inc., Roger Hart, DRE #00625505

Sold By E Real Estate Corp., Dean Thomas, DRE #00711417

Add your commute

Building Information for 1622 Gramercy Avenue

Stories-Residences-Year Built2010Building Size-Lot Size0.25 AC / 11,069 SF

Payment Calculator

$32,643 per month

30 year fixed, 7.25% Interest

Principal and Interest

$31,380

Property Taxes

$1,263

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1622 Gramercy Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Sewer, Water
Income / Expense / Tax Details
Income Details
  • Gross Income: $278,400
  • Gross Scheduled Income: $278,400
  • Vacancy Allowance Rate: 0
  • Net Operating Income: $216,169
  • Cap Rate: 3.6
  • Financing: Conventional
Expense Details
  • Operating Expense: $62,231
  • New Taxes Expense: $41,000
  • Fuel Expense: $0
  • Electric Expense: $3,000
  • Insurance Expense: $5,931
  • Professional Management Expense: $780
  • Trash Expense: $9,000
  • Water Sewer Expense: $2,520
  • Total Expenses: $62,231
Tax / Assessment Info
  • Tax Year: 2020
  • Tax Annual Amount: $41,000
  • Tax Tract Number: 61985
  • CFD/Mello-Roos Fee: $409
  • Tax Lot: 1
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Additional Parcels Description: 7355024042, 7355024041, 7355024040, 7355024039, 7355024038, 7355024037, 7355024036
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 16
  • Parking: Yes
  • Parking Garage: Garage
  • Parking Garage Spaces: 16
  • Carport Spaces: 2
  • Parking Features: Covered, Garage
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,900
  • Unit Type Total Rent: $3,900
  • Unit Type Pro Forma: 3900
  • Unit Type Area: 2590
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
  • Unit Type Description: store
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,800
  • Unit Type Total Rent: $2,800
  • Unit Type Pro Forma: 3400
  • Unit Type Area: 1800
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 2
  • Unit Type Description: office & residential
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,700
  • Unit Type Total Rent: $2,700
  • Unit Type Pro Forma: 3000
  • Unit Type Area: 1660
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 3
  • Unit Type Description: residential townhome
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,700
  • Unit Type Total Rent: $2,700
  • Unit Type Pro Forma: 3000
  • Unit Type Area: 1640
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 4
  • Unit Type Description: residential townhome
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,700
  • Unit Type Total Rent: $2,700
  • Unit Type Pro Forma: 3000
  • Unit Type Area: 1710
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 5
  • Unit Type Description: residential townhome
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,700
  • Unit Type Total Rent: $2,700
  • Unit Type Pro Forma: 3000
  • Unit Type Area: 1640
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 6
  • Unit Type Description: residential townhome
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,000
  • Unit Type Total Rent: $3,000
  • Unit Type Pro Forma: 3400
  • Unit Type Area: 2030
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 7
  • Unit Type Description: office & residential
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,700
  • Unit Type Total Rent: $2,700
  • Unit Type Pro Forma: 3400
  • Unit Type Area: 1910
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 8
  • Unit Type Description: office & residential
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 9

Property History for 1622 Gramercy 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 1622 Gramercy Avenue

Taxable ValueLand$560,000Additions$765,000Total$1,325,000
Tax Record2023$15,154 ($1,263 / month)
Home Facts
Total Finished SqFt2,590 SqFtAbove Grade Finished SqFt2,590 SqFtLot Size11,069 SqFtStyleStoresYear Built2010ZoningTOC1*CountyLOS ANGELESAPN7355-024-043

Schools near 1622 Gramercy 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
Torrance Elementary School
PublicK to 5

J. H. Hull Middle School
Public6 to 8

Torrance 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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Listing Courtesy of Forecast Realty Inc., Roger Hart, DRE #00625505

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.