23135 Madison Street, Torrance, CA 90505

$14,250,000
List Price
$14,250,000
Status
ACTIVE
MLS#
SB22239452
Year Built
1969
Lot Size
32,094
Acres
0.74
Lot Location
Garden, Gentle Sloping, Landscaped, SprinklerSystem
Days on Market
16
Property Type
Multifamily
Property Sub Type
Apartment
Stories
Two Levels

Property Description

Madison Park Apartments is a well maintained 36-unit multifamily community located in the desirable Southwood Riviera neighborhood of South Torrance. Madison Park Apartments presents an opportunity for an investor or renovator to acquire a value-add multifamily asset situated in a highly coveted location due to its’ proximity to the coast, diverse employment base, highly rated schools, and amenities accessible within the Southern California area. Additionally, Madison Park Apartments will appeal to both long-term investors and renovation specialists. The desirable unit mix of (18) ample 1 Bedroom 1 Bath units and (18) spacious 2 Bedroom 1.75 Bath units, each with their own large patio or balcony, are roomy enough for sharing living space or creating a work from home environment. There is demonstrable upside in the current rent rates and post-renovated rent rates, depending on the quality of value-add enhancements and renovations brought to the property. Madison Park Apartments is located near the best that the South Bay area has to offer, within walking distance to a variety of Parks, Recreations Centers, Madrona Marsh Nature Preserve and neighborhood schools. Within a short drive, one can reach the Pacific Ocean and Riviera Village, The Del Amo Shopping Center, and Wilson Park, providing Residents with an abundance of recreational, shopping, dining, and entertainment options. Madison Park Apartments is also conveniently located near Hawthorne Boulevard, Pacific Coast Highway and within close access to Interstate 405, 110 and 91, allowing residents to reach employment hubs throughout Los Angeles and Orange County. In summary, Madison Park Apartments offers the opportunity to build lasting value in the ideally located and highly coveted coastal submarket of Los Angeles California.

Additional Information

Appliances
Dishwasher, Electric Range
Pool Description
Community, In Ground
Heat
Electric
Cooling
Yes
Cooling Description
SeeRemarks
View
None
Roof
Flat, Rolled/Hot Mop
Garage Spaces Total
58
Sewer
Public Sewer
Water
Public
Interior Features
Granite Counters, QuartzCounters
Attached Structure
Attached
Number Of Units Total
36
Gross Scheduled Income
$854,496
Operating Expense
317453

Listing courtesy of Listing Agent: Nancy Bush (Nancy@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.