The Palms — Sale in Torrance, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Torrance, CA 90505

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Investment Figures

Cap rate
5.36%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap, as the exclusive listing broker, is pleased to present The Palms, 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. Investment Highlights: • Prime Location: 48-unit multifamily investment asset located in Torrance, California. • Substantial Footprint: 36,096 net rentable square feet situated on a spacious 1.03-acre lot (built in 1961). • Favorable Unit Mix: Strong base of 38 one-bedroom units, complemented by 10 two-bedroom units. • Proven Upside: 8 units have already been extensively renovated with luxurious finishes. • Community Design: Garden-style layout with buildings oriented aro

Market Context

This multifamily in Torrance, CA is listed for sale. It is offered at an approximate 5.4% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Torrance, CA — view the full market.

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