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20704 Osage Avenue, Torrance, CA 90503$3,100,000
$383 / ft2
Listing provided courtesy of Listing Broker: Stephen Lampe, Re/Max Commercial & Investment
The Oasis at Osage is a well maintained, lushly landscaped 8 unit apartment complex in a prime area of Torrance. There are 9 parking spaces below grade with two stories of living area above, as well as a laundry room with 4 machines owned by the landlord. There is a bike storage room and lockers that are used by the tenants and could generate additional income. Tenants pay their own gas and electric utilities.
The complex is located on a large corner lot, just east of Hawthorne Boulevard off of Emerald Street. Ideally located with close proximity to major employers such as Toyota, Honda and only 3 blocks from the recently renovated Del Amo Fashion Mall. The City of Torrance does not have any city rent control ordinance, and the units have not had any rent increases in over 2 years. The rents are below market and can be increased in 8.6% accordance with State Bill AB 1482 (5% per year plus the CPI increase of 3.6% -- subject to a maximum of 10% per year).