Garden-Style Apartment
For Sale
$14,950,000
3929 W 242nd St, Torrance, CA 90505
Established multifamily property with courtyard spaces, resident amenities, gated entry, and covered parking.
Property Size36,096 SF
Lot Size1.03 Acres
Days on Market14
Property Features for 3929 W 242nd St
General Information
Standard status
Active
Size
36,096 SF
Net Rentable
36,096 SF
Total Parking Spaces
50
Lot size
1.03 Acres
Property subtype
Multifamily
Units
Unit Mix
38 x 1BR/1BA, 6 x 2BR/1BA, 4 x 2BR/2BA
Multifamily Units
48
Additional Details
Cap Rate
5.13%
Amenities
swimming pool
clubhouse
gated access
on-site laundry
covered parking
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 around inviting, shared interior courtyards.
Desirable Amenities: Features a swimming pool, resident clubhouse, and two on-site laundry facilities.
Ample Covered Parking: Extensive parking options including 45 tuck-under spaces, 2 surface spaces, and 2 garages.
Secure Community: Gated access providing enhanced privacy and security for residents.
Building Details
Building Size
36,096 SF
Year Built
1961
Units
48
Construction
garden-style
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Michael Sterman · License #License(s): CA: 01911703
(818) 212-2784
Source:
Marcusmillichap
Added: Aug 20
Changed: Sep 1
Last Checked: Sep 1 at 2:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
The Palms is a 48-unit apartment property completed in 1961 at 3929 W 242nd St in Torrance, California. The garden-style improvements contain approximately 36,096 net rentable square feet on 1.03 acres, with buildings positioned around interior courtyards. The unit mix includes 38 one-bedroom/one-bath apartments, 6 two-bedroom/one-bath apartments, and 4 two-bedroom/two-bath apartments. Eight units have been renovated.
Property amenities include a swimming pool, clubhouse, gated access, two on-site laundry facilities, and covered parking. Parking consists of 45 tuck-under spaces, 2 surface spaces, one single-car garage, and one double-car garage. The site also includes internal circulation and shared outdoor areas serving the apartment buildings.
Property amenities include a swimming pool, clubhouse, gated access, two on-site laundry facilities, and covered parking. Parking consists of 45 tuck-under spaces, 2 surface spaces, one single-car garage, and one double-car garage. The site also includes internal circulation and shared outdoor areas serving the apartment buildings.
Key Highlights
- 48‑unit apartment property on 1.03 acres
- Approximately 36,096 net rentable square feet
- Unit mix includes 38 one‑bedroom, 6 two‑bedroom/one‑bath, and 4 two‑bedroom/two‑bath units
Property Analytics
Property Profile
Current Use
Lease Details
48
Residential units
Location Intelligence
Trade Area within ½ mile
2,997
Businesses Nearby
Explore this area
Business Placement
Demographics for 90505, CA
36,643
Population
15,202
Households
2.4
Avg Household Size
45
Median Age
59%
College-Educated
97%
High-School Grad
5.9 sq mi
ZIP Area
6,211
Density / Sq Mi
$110,690
Median Household Income
$70,100
Median Earnings
$2,338
Median Rent
$1,144,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Established multifamily property with courtyard spaces, resident amenities, gated entry, and covered parking.
Where is this apartment building located?
The property is located at 3929 W 242nd St Torrance, CA.
What is the asking price?
The asking price for this property is $14,950,000.
What are key features of this property?
This property features: 48‑unit apartment property on 1.03 acres; Approximately 36,096 net rentable square feet; Unit mix includes 38 one‑bedroom, 6 two‑bedroom/one‑bath, and 4 two‑bedroom/two‑bath units
