Alden Pacific Investments Completes the Sale of 4-Units in Torrance
Alden Pacific Investments has completed the $1,400,000 purchase of a 4-Unit apartment complex. The property is located at 1519 W 207th Street in Torrance.
Agent Chuck Tam of Alden Pacific Investments represented the Buyer. The property sold for $350,000 per unit and $284 per sqft, with a significant upside at the close of more than 50% growth with stabilized market rents.
The property was built in 1990 and is situated on a 7,001 square-foot lot with surface parking. The unit mix consists of 2 [3BD/2BA] and 2 [2BD/2BA].
“With a great location and a 35% upside in rents the property represents a great addition to the client’s portfolio, boasting a great equity payback period.”