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SOLD 4/19/2022

20704 Osage Avenue, Torrance, CA 90503$3,100,000

16
beds
12
baths
7562
ft2
· 9136
ft2 lot
$383 / ft2

Listing provided courtesy of Listing Broker: Stephen Lampe, Re/Max Commercial & Investment
Source CRMLS;
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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).

HOA

No HOA

On market

a day

Year built

1963

Property type

Multi-Family

Parking

MLS

SB22067260

Price / Sq.Ft.

$383 / ft2

Status

Closed

Buyer’s Brokerage Commission

2%

Home details for 20704 Osage Avenue

Interior Features & Layout
Appliances
•   
Laundry Details: Common Area, Inside
•   
Laundry: 1
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
Heating & Cooling
•   
Has Heating
•   
Heating Details: Radiant
Interior Size
•   
Building Area Total: 7562.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Available: 1
•   
Parking Features: Assigned, Covered, Concrete, Paved, Off Street, Parking Space, Private
•   
Garage Spaces: 0.00
Building Info
•   
Building Area Units: Square Feet
•   
Zoning: TORR-MH
•   
Stories Total: 2
•   
Num Stories: Two
•   
Year Built Source: Assessor
Lot Info
•   
Lot Features: Corner Lot, Landscaped, Lot 6500-9999, Rectangular Lot
•   
Lot Size Source: Assessor
•   
Elevation Units: Feet
•   
Lot Size Acres: 0.2097
•   
Lot Size Area: 9136.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 1
•   
Total Units: 8
Property Features
•   
Common Walls: 2+ Common Walls
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 9
•   
Number Of Separate Gas Meters: 9
•   
Number Of Separate Water Meters: 1
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 186833.00
•   
Water Sewer Expense: 1579.00
•   
Laundry Income: 2025.00
•   
Licenses Expense: 227.00
•   
Maintenance Expense: 9235.00
•   
Pest Control Expense: 746.00
•   
Fuel Expense: 1579.00
•   
Trash Expense: 2914.00
•   
New Taxes Expense: 32509.00
•   
Insurance Expense: 4842.00
•   
Vacancy Allowance: 3772
•   
Professional Management Expense: 7473.00
•   
Total Expenses: 68748.00
•   
Gross Scheduled Income: 188580.00
•   
Operating Expense: 68748.00
•   
Gardener Expense: 1512.00
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 190605.00
•   
Tax Year: 2021
•   
Taxes: 16882.97
Lease Info
•   
Net Operating Income: 118085.00
Listing Info
•   
Status: Closed
Other
•   
Electric Expense: 1579.00
Multi Unit Information
Unit 3 Information
•   
Unit 3 Bedrooms: 2
•   
Unit 3 Actual Rent: 1250.00
•   
Unit 3 Total Units: 1
•   
Unit 3 Furnished Units: Unfurnished
•   
Unit 3 Garage Spaces: 0.00
•   
Unit 3 Bathrooms: 1
•   
Unit 3 Total Rent: 1250.00
Unit 7 Information
•   
Unit 7 Garage Spaces: 0.00
•   
Unit 7 Bathrooms: 1
•   
Unit 7 Actual Rent: 1375.00
•   
Unit 7 Total Units: 1
•   
Unit 7 Total Rent: 1375.00
•   
Unit 7 Bedrooms: 1
•   
Unit 7 Furnished Units: Unfurnished
Unit 2 Information
•   
Unit 2 Actual Rent: 1995.00
•   
Unit 2 Bedrooms: 1
•   
Unit 2 Total Units: 1
•   
Unit 2 Furnished Units: Unfurnished
•   
Unit 2 Bathrooms: 1
•   
Unit 2 Garage Spaces: 0.00
•   
Unit 2 Total Rent: 1995.00
Unit 8 Information
•   
Unit 8 Bathrooms: 2
•   
Unit 8 Garage Spaces: 0.00
•   
Unit 8 Actual Rent: 2295.00
•   
Unit 8 Total Units: 1
•   
Unit 8 Total Rent: 2295.00
•   
Unit 8 Bedrooms: 2
•   
Unit 8 Furnished Units: Unfurnished
Unit 1 Information
•   
Unit 1 Bedrooms: 2
•   
Unit 1 Total Units: 1
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 0.00
•   
Unit 1 Bathrooms: 2
•   
Unit 1 Actual Rent: 1430.00
•   
Unit 1 Total Rent: 1430.00
Unit 4 Information
•   
Unit 4 Actual Rent: 3500.00
•   
Unit 4 Total Units: 1
•   
Unit 4 Furnished Units: Unfurnished
•   
Unit 4 Total Rent: 3500.00
•   
Unit 4 Bathrooms: 2
•   
Unit 4 Garage Spaces: 0.00
•   
Unit 4 Bedrooms: 3
Unit 5 Information
•   
Unit 5 Actual Rent: 2070.00
•   
Unit 5 Total Units: 1
•   
Unit 5 Furnished Units: Unfurnished
•   
Unit 5 Total Rent: 2070.00
•   
Unit 5 Garage Spaces: 0.00
•   
Unit 5 Bathrooms: 2
•   
Unit 5 Bedrooms: 3
Multi Unit Information
•   
# Of Units: 8
•   
Number Of Units Leased: 8
•   
Price Per Unit: 362500
Unit 6 Information
•   
Unit 6 Actual Rent: 1800.00
•   
Unit 6 Total Units: 1
•   
Unit 6 Total Rent: 1800.00
•   
Unit 6 Furnished Units: Unfurnished
•   
Unit 6 Bedrooms: 2
•   
Unit 6 Garage Spaces: 0.00
•   
Unit 6 Bathrooms: 1
School Neighborhood & Directions
Location
•   
Community Features: Curbs, Sidewalks, Street Lights, Suburban
School Info
•   
Directions: Just west of Madrona and Emerald
Other
Calculation
•   
Dom: 2
•   
Cdom: 2

Neighborhood snapshot

13
Properties for sale
7
Median days on market
$646.58
Median sold price/sqft
106.26%
Sold/List %
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walk score® :

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Property History for 20704 Osage Avenue

04/19/2022
04/19/2022
CRMLS #SB22067260
sold
CRMLS #SB22067260
$3,100,000
+6.90%
04/06/2022
04/06/2022
CRMLS #SB22067260
pending
CRMLS #SB22067260
$2,900,000

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