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20518 Raymond Avenue, Torrance, California 90502, Torrance, 90502 - bed, bath

20518 Raymond Avenue, Torrance, California 90502 home-pic-0
ACTIVE$899,000
20518 Raymond Avenue, Torrance, California 90502
0Bed
0Bath
2,000Sqft
6,209Lot
Year Built
1959
Close
-
List price
$899K
Original List price
$940K
Price/Sqft
$450
HOA
-
Days on market
-
Sold On
-
MLS number
WS24198823
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $899.0K(33th), sqft - 2000(33th), beds - undefined(50th), baths - undefined(50th).

Back on the market due to Buyer unable to close. Fumigation treatment complete along with major repairs. Residential income opportunity located at the gateway of Torrance. Close proximity to parks and Front house is 1200 SF featuring 3 bedrooms and 2 bathrooms. With new flooring installed a few years ago and a renovated bathroom, the cozy home also features a spacious kitchen. The backhouse is approximately 800 SF with 1 bedroom and 1 full bathroom. Shared yard in front of the back house To add to the income stream, the garage was converted (unpermitted) to two units featuring one studio and another being 1 bedroom and 1 bathroom. The property is fully leased with tenants paying for gas and electricity. Owners takes care of trash and water. One of the members of the holding company is a licensed realtor.

Price History

Date
Event
Price
08/02/25
$899,000
10/01/24
$940,000
07/20/21
Sold
$749,000
04/06/99
Sold
$180,000
05/10/96
Sold
$149,000
Condition Rating
Poor
The property, built in 1959, is 65 years old. While the description mentions 'new flooring installed a few years ago' and 'a renovated bathroom,' the images reveal a kitchen with dated cabinets, countertops, and some appliances, despite a newer backsplash and flooring. The lighting fixtures throughout are also outdated. The 'renovated bathroom' appears functional but not modern in style. Crucially, the property includes an 'unpermitted' garage conversion into two units, which represents a significant legal and potential structural defect requiring substantial rehabilitation or remediation. Although 'major repairs' and fumigation were completed, the overall condition, particularly the unpermitted work and the dated core elements, indicates that the property requires substantial repairs and rehabilitation to meet current standards and address legal compliance.
Pros & Cons

Pros

Strong Income-Generating Potential: The property offers multiple rental units (main house, back house, plus two converted garage units), currently fully leased, providing a robust income stream for investors.
Recent Property Improvements: Major repairs and fumigation treatment have been completed, indicating proactive maintenance and potentially reducing immediate post-purchase expenses for the buyer.
Desirable Torrance Location: Situated at the 'gateway of Torrance' and close to parks, offering a convenient and attractive location for tenants and potential appreciation.
Flexible Multi-Unit Layout: Features a distinct front house and a separate back house, allowing for various living arrangements, such as owner-occupancy with rental income or a pure investment strategy.
Reduced Owner Utility Burden: Tenants are responsible for gas and electricity, which helps to lower the owner's overall operating costs.

Cons

Significant Unpermitted Conversions: The garage has been illegally converted into two additional units, posing substantial legal, financial, and safety risks, including potential fines, forced removal, or costly legalization.
Discrepancy in Property Type/Unit Count: Listed as a 'Duplex' but described with four distinct living spaces (main house, back house, two garage units), which can complicate financing, insurance, and legal compliance.
Previous Failed Transaction & Price Reduction: The property is back on the market due to a prior buyer's inability to close and has seen a price reduction, suggesting potential underlying issues or challenges in securing a sale.

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