22720 Harvard, Torrance, California 90501, Torrance, 90501 - bed, bath

22720 Harvard, Torrance, California 90501 home-pic-0
ACTIVE UNDER CONTRACT$1,595,000
22720 Harvard, Torrance, California 90501
0Bed
0Bath
6,240Sqft
8,068Lot
Year Built
1955
Close
-
List price
$1.59M
Original List price
$1.79M
Price/Sqft
$256
HOA
-
Days on market
-
Sold On
-
MLS number
SB25231210
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.59M(50th), sqft - 6240(67th), beds - undefined(50th), baths - undefined(50th).

8-Unit Apartment Building | First Time on Market in 26 Years! Rare investment opportunity: two 4-unit buildings on one parcel. Each unit is 2 bed/1 bath. Huge upside in rents with a possible 10.3% market CAP and 7.7 market GRM! Upgrades include new roofs, new electrical panels, 68 new vinyl windows (2025), and freshly painted exterior. One remodeled unit is rent-ready. Most units feature updated vinyl/tile flooring. All units include gas range, water heater, and gas wall furnace. 1 covered carport space per unit. Shared courtyard. Many long-term tenants. Subject to City of Los Angeles Rent Control (RSO). Convenient location near freeways, shopping, and restaurants. Huge rental upside.

Nearby schools

5/10
Meyler Street Elementary School
Public,K-50.7mi
7/10
Halldale Elementary School
Public,K-51.0mi
5/10
One Hundred Eighty-Sixth Street Elementary School
Public,K-52.9mi
5/10
Stephen M. White Middle School
Public,6-81.3mi
6/10
Alexander Fleming Middle School
Public,6-81.9mi
5/10
Nathaniel Narbonne Senior High School
Public,9-121.1mi

Price History

Date
Event
Price
10/30/25
Price Change
$1,595,000-11.1%
10/03/25
Listing
$1,795,000
07/02/99
Sold
$300,000
Condition Rating
Fair

The property, built in 1955, has received significant recent system updates including new roofs, electrical panels, and vinyl windows (scheduled for 2025), and a freshly painted exterior. While these are positive, the interior units, as depicted in the images, show a functional but dated aesthetic. The kitchen features basic white shaker cabinets, simple countertops, and a standard sink, lacking modern style or high-end finishes. The flooring throughout is light-colored tile, which is clean and durable but not contemporary. Light fixtures are basic flush mounts. There is no central air conditioning, relying on gas wall furnaces. Although one unit is described as 'remodeled' and most have 'updated vinyl/tile flooring,' the overall impression is that of a well-maintained older property with practical, rather than stylish, updates. It is move-in ready but would require further aesthetic renovations to meet current quality and style standards, particularly in kitchens and bathrooms (no bathroom images provided, but likely similar to kitchen quality).
Pros & Cons

Pros

Strong Investment Upside: The property offers significant financial potential with a projected 10.3% market CAP and 7.7 market GRM, indicating substantial room for rent growth and increased profitability.
Extensive Capital Improvements: Recent and planned upgrades, including new roofs, new electrical panels, 68 new vinyl windows (2025), and a freshly painted exterior, reduce immediate capital expenditure for a new owner.
Rare Multi-Unit Opportunity: An 8-unit apartment building, configured as two 4-unit structures on a single parcel, is available for the first time in 26 years, presenting a unique and stable investment asset.
Desirable Unit Configuration: All units are 2-bedroom, 1-bathroom, a highly sought-after layout, and include essential amenities like gas ranges, water heaters, and gas wall furnaces, with most featuring updated flooring.
Strategic Location: Conveniently situated near freeways, shopping, and restaurants, the property benefits from strong tenant demand and accessibility to key amenities.

Cons

Rent Control Restrictions: The property is subject to the City of Los Angeles Rent Stabilization Ordinance (RSO), which may limit the speed and extent of rent increases on existing tenants.
Aging Infrastructure: Built in 1955, the property's age suggests potential for ongoing maintenance and capital expenditures for systems not explicitly mentioned in recent upgrades, such as plumbing or foundation.
Challenges with Long-Term Tenants: The presence of 'many long-term tenants' often implies below-market rents, which, combined with rent control, could slow the realization of market-rate income without significant tenant turnover or substantial unit renovations.

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