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2830 W 235th Street, Torrance, California 90505, Torrance, 90505 - bed, bath

2830 W 235th Street, Torrance, California 90505 home-pic-0
ACTIVE$8,499,000
2830 W 235th Street, Torrance, California 90505
0Bed
0Bath
18,396Sqft
22,454Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Extensive Recent Renovations: Seven units have been completely renovated with modern finishes and in-unit laundry, complemented by significant exterior upgrades, reducing immediate capital expenditure for a new owner.
Top Cons:
Partial Renovation Scope: Only 7 out of 15 units are fully renovated, meaning a significant portion (8 units) will require future capital investment to achieve consistent modern standards across the complex.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1969 (56 years old).
Condition: Built in 1969, this 15-unit complex has undergone significant recent renovations. Seven of the units have been completely updated with new flooring, cabinets, countertops, appliances, and fixtures, bringing them to an excellent standard. The exterior, landscaping, and common areas have also received extensive recent upgrades, presenting a modern and well-maintained appearance. While the remaining eight units have not been renovated and the underlying infrastructure dates back to 1969, the substantial improvements to nearly half the units and the entire exterior elevate the property beyond 'Fair' condition, making it largely move-in ready with a blend of modern and functional spaces.
Year Built
1969
Close
-
List price
$8.5M
Original List price
$8.7M
Price/Sqft
$462
HOA
-
Days on market
-
Sold On
-
MLS number
PW25177634
Home ConditionGood
Features
View-

About this home

Stunning partially renovated apartment complex located at 2830 West 235th Street in Torrance, California. The 15-unit complex offers a highly desirable mix of six two-bed/two-bath townhomes and nine two-bed/two-bath traditional units, all with spacious floor plans. The units surround a newly landscaped courtyard with furnishings for tenants’ enjoyment, and the property also offers ample garage parking and controlled access. 2830 West 235th Street boasts an extensive list of major recent improvements: seven units have been completely renovated and feature new flooring, cabinets, countertops, appliances, in-unit laundry, and new fixtures. Exterior updates include new exterior paint, new landscaping (including complete removal and replacement of irrigation system), fencing, signage, courtyard furnishings and lighting fixtures. The property is located just over a block south of Hickory Park and Hickory Elementary School and conveniently near shopping and restaurants at Torrance Crossroads. This desirable inland South Bay rental market is popular for its strong tenant base and proximity to amenities and beach cities. With its excellent condition and sought-after unit mix, 2830 West 235th Street is an exciting acquisition opportunity in a strong rental market.

Price History

Date
Event
Price
12/29/21
Sold
$6,650,000
04/01/19
Sold
$5,500,000
Condition Rating
Good
Built in 1969, this 15-unit complex has undergone significant recent renovations. Seven of the units have been completely updated with new flooring, cabinets, countertops, appliances, and fixtures, bringing them to an excellent standard. The exterior, landscaping, and common areas have also received extensive recent upgrades, presenting a modern and well-maintained appearance. While the remaining eight units have not been renovated and the underlying infrastructure dates back to 1969, the substantial improvements to nearly half the units and the entire exterior elevate the property beyond 'Fair' condition, making it largely move-in ready with a blend of modern and functional spaces.
Pros & Cons

Pros

Extensive Recent Renovations: Seven units have been completely renovated with modern finishes and in-unit laundry, complemented by significant exterior upgrades, reducing immediate capital expenditure for a new owner.
Desirable Unit Mix: The complex offers a highly sought-after mix of 15 two-bed/two-bath townhomes and traditional units, appealing to a broad and stable tenant base.
Prime South Bay Location: Situated in a strong Torrance rental market, the property benefits from proximity to parks, schools, shopping, restaurants, and beach cities, ensuring high tenant demand.
Tenant-Centric Amenities: Features a newly landscaped courtyard with furnishings, ample garage parking, and controlled access, enhancing tenant satisfaction and retention.
Value-Add Potential: With 8 units yet to be fully renovated, there is clear upside potential for a new owner to implement similar upgrades and significantly increase rental income and property value.

Cons

Partial Renovation Scope: Only 7 out of 15 units are fully renovated, meaning a significant portion (8 units) will require future capital investment to achieve consistent modern standards across the complex.
Property Age: Built in 1969, the underlying infrastructure of the property may eventually require significant maintenance or upgrades beyond the recent cosmetic renovations.
Recent Price Reductions: Multiple price drops from the original listing suggest potential market resistance or an initial overvaluation, which could indicate a need for further market adjustment or careful valuation.

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