3929 W 242nd ST, Torrance, CA 90505
3929 W 242nd ST, Torrance, CA 90505
3929 W 242nd ST, Torrance, CA 90505
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$15,500,000
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1.03 Acres Lot
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3929 W 242nd ST Torrance, CA 90505

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Kevin Hall

Kevin Hall

+1(323) 854-2814

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26180225

HOA Y/N No

Year Built 1961

Lot Size 1.030 Acres

Property Sub-Type Apartment

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 Torrance multifamily asset with scale, a predominantly onebedroom unit mix, courtyard-style design, on-site amenities, gated access, and covered parking.

Location

State CA

County Los Angeles

Area 125 - Walteria

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 3.0

Carport Spaces 45

Garage Description 3.0

Pool Community

Community Features Curbs, Gutter(s), Street Lights, Sidewalks, Pool

Total Parking Spaces 50

Private Pool No

Building

Lot Description Lot Over 40000 Sqft

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7534006020

Energy Description 18595.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Tyler Leeson Marcus & Millichap RE Invest tleeson@marcusmillichap.com, DRE #01451551

Nearby Locations

Kevin Hall
Kevin Hall

Agent | License ID: 01387143

+1(323) 854-2814 | kmhadvisors@gmail.com

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3929 W 242nd ST