Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,360,000
Warehouses
1606 Lockness Pl Torrance, CA 90501-5119
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-6345023
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1988
Construction
TILT-UP CONCRETE
Total area
9,638 SF
Lot
0.43 ac (18,694 SF)
Zoning code
LAM2
APN
7347-017-039
UPID
US09-6345023
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Green Tree Heating & Cooling HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.28M
CAP Approach
CAP
$2.24M
Comparable Approach
Comparable
$3.88M
Blend (final)
Blend
$3.36M
Owner & transaction history
Lockness Zone 1606 LLC · 5 yrs held
Lockness Zone 1606 LLC
since 2020
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
LAM2 · Torrance, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.5M
+40.9%
Medical building
$4.4M
+38.5%
Office building
$4.0M
+27.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Torrance submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Torrance submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,360,000
ML approach
$3,280,000
CAP Approach
CAP Return
Estimation
6%
$2,425,000
6.5%
$2,235,000
7%
$2,075,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,165,000
Current use
AUTO REPAIR, GARAGE
$4,460,000
Change: +41% · Conversion: Easy
MEDICAL BUILDING
$4,380,000
Change: +38% · Conversion: Difficult
OFFICE BUILDING
$4,025,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$3,620,000
Change: +14% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,050,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$3.36M
Range $3.02M – $3.70M · ±10% · vs last sale $2.70M (Oct 27 2020)
Last sale anchor
$2.70M
Oct 27 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$349 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$36,166
Tax year 2024
Assessed value
$2,865,260
Assessed 2024
Previous assessed
$2,865,260
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$1,697,932
Assessed improvement
$1,167,328
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1988
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
9,638 SF
Lot
0.43 ac (18,694 SF)
Zoning code
LAM2
APN
7347-017-039
UPID
US09-6345023
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAM2 · Torrance, CAZoning LAM2 · permitted uses
LAM2 · Torrance, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$4.5M
MEDICAL BUILDING
Est. value
$4.4M
OFFICE BUILDING
Est. value
$4.0M
RETAIL STORES
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.1M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
Lockness Zone 1606 LLC
Entity
Mailing address
1602 LOCKNESS PL, TORRANCE, CA 90501-5119
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2020
$2,700,000
Lockness Zone 1606 LLC
Mako Holdings LLC
Grant Deed
$2,700,000 · Reality LLC
Jul 21, 2016
—
Mako Holdings LLC
—
Deed
related
$2,240,000 · American Business Bank
Mar 24, 2011
$1,470,000
Mako Holdings LLC
Motive Ventures INC
Grant Deed
$735,000 · Union Bank
Jun 29, 2007
$1,965,500
Motive Ventures INC
Rancho Way Properties LLC
Grant Deed
$982,636 · Bank Of America
May 3, 2006
$1,600,000
Rancho Way Properties LLC
Dan Tseng
Grant Deed
$960,000 · Wells Fargo Bank NA
Jan 31, 2003
—
Dan Tseng
Kao,debbie Y
Quit Claim Deed
related
—
Jan 31, 2003
$850,000
Dan Tseng
Lee,rita C
Grant Deed
$550,000 · General Bank
Sep 16, 1988
$760,000
Gary J Lee
Unknown
Grant Deed
—
—
—
Gary J Lee
—
Deed Of Trust
related
$76,000 · Individual
—
—
Dan Tseng
—
Deed Of Trust
related
$250,000 · Peter Chen
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1606 Lockness Pl?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
