Emerald Gardens Apartments

09-15-2022
09-26-2022

20308 Madison St, Torrance, CA 90503

  • Mix of One & Two-Bedroom Floor Plans
  • Spacious Courtyard & Gated Tuck-Under Parking
  • Close Proximity to Schools, Parks, Grocers, & Retailers
  • Highly Desirable Unit Upgrades & Amenities
  • Potential for One Accessory Dwelling Unit (ADU)
  • Within Walking Distance of Torrance Promenade

Property Description

listing agent, is pleased to present the opportunity to acquire Emerald Gardens, a 40-unit multifamily investment property located in Torrance, a premier rental market in Los Angeles County, California.
Built in 1969, Emerald Gardens offers an attractive mix of one and two-bedroom floor plans and a desirable amenity package including controlled access, two on-site laundry facilities with landlord owned machines, private balconies (select units), and ample gated tuck-under parking.
Current ownership has invested significant capital into the renovation of 34 of the 40 units. Additionally, there are multiple opportunities for new ownership to increase future cash flow including the conversion of an accessory dwelling unit and the continuation of the proven in-place renovation plan.
Emerald Gardens is situated in the desirable Delthorne neighborhood in Torrance, which is ranked as “The Best Neighborhood for Young Professionals in Torrance” according to Niche.com. The property is located blocks away from the Torrance Promenade, providing residents with convenient access to everyday needs. Additionally, Emerald Gardens is situated within 1 mile of the Del Amo Fashion Center and just over 1.50 miles from the South Bay Galleria, providing residents with an abundance of retail, dining, and entertainment options. Emerald Gardens is conveniently located in close proximity to Hawthorne Boulevard and Interstate 405, connecting residents to employment hubs throughout Los Angeles and Orange Counties.
The neighborhoods surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation and retail amenities. This overall demand for a well located and maintained apartment building will be a key driver in the continued growth and success at Emerald Gardens.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent*

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 15,975,000
No. of Units
40
Cap Rate
3.9%
GRM / GIM
15.49
Year Built
1969
Building Size
29,212 Sq ft
Lot Size
1 acres
No. of Stories
2
No. of Parking Spots
57
Opportunity Zone
No
Price per unit
$ 399,375
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