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Listed by Tyler Leeson, DRE #01451551 • Marcus & Millichap RE Invest
$ 14,950,000
Est. payment /mo
Price Dropped by $550K
3929 W 242nd ST Torrance, CA 90505
1 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26180225
Year Built 1961
Lot Size 1 Sqft
Source California Regional MLS
Property Description
The Palms is a 48-unit multifamily investment opportunity located at 3929 West 242nd Street in Torrance, California. Built in 1961, the property sits on a 1.03-acre lot and features approximately 36,096 net rentable square feet, with apartment buildings arranged around spacious interior courtyard areas. The Palms features a garden-style layout, with apartment buildings oriented around interior courtyards that provide residents with shared outdoor space. The site also accommodates common area circulation, resident amenities, and a substantial covered parking component within the property's 1.03-acre footprint. The unit mix consists of 38 one-bed/one-bath units, 6 two-bed/one-bath units, and 4 two-bed/two-bath units. This composition provides a strong base of one-bedroom floor plans while also including a selection of larger two-bedroom units. Current ownership has extensively renovated 8 units with luxurious finishes. The property features a swimming pool, clubhouse, gated access, two on-site laundry facilities, and covered parking. Parking is provided through 45 tuck-under spaces, 2 surface spaces, one single-car garage, and one double-car garage, giving The Palms a substantial covered parking component relative to its unit count. Overall, The Palms represents an established Torr
Location
State CA
County Los Angeles
Area 125 - Walteria
Interior
Laundry Community Facility
Exterior
Garage Spaces 50.0
Pool Community Facility
Building
Water District - Public
Others
Tax ID 7534006020
Special Listing Condition Not Applicable
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