1925 Crenshaw Blvd - Development Site - 2.54 Acres
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1925 Crenshaw Blvd - Development Site - 2.54 Acres
2.54 Acres of Residential Land Offered at $14,064,000 CAD in Torrance, CA 90501
Investment Highlights
- Development Site - 2.54 Acres in Desirable Torrance Location
- Property is Surrounded by Residential Uses with Densities of 8-22 du/Acre
- Allstate Trailer Village: 25-Space Park on ±1.28 Acre
- Zoning is M2 (Industrial); General Plan Land Use is C-Gen (General Commercial)
- Current Use: Mobile Home Park & Parking Lot for USPS
- Parking Lot: ±1.26 Acres, USPS Lease Expiring November 2025
Executive Summary
This sale offers the opportunity to purchase a ±2.54-acre infill development site located in the city of Torrance. Located on the northwest corner of Crenshaw Boulevard and Plaza del Amo in central Torrance, the site is situated in a desirable South Bay location.
Current Use
The site is currently divided between two separate uses. The northerly portion of the property (approximately 1.28 acre) operates as the Allstate Trailer Village, a 25-space all-age mobile home park that is comprised of 21 single-wide homes and 4 double-wide homes. The southerly portion of the site (approximately 1.26 acres) functions as a parking lot and is currently leased out to the United States Postal Service who use the property for overflow parking. The USPS lease will expire on November 11, 2025, and contains no options to further extend the lease.
Zoning/General Plan Land Use
The property is currently zoned Heavy Manufacturing (M2). The General Plan Land Use designation for this site is General Commercial (C-Gen). However, the neighborhood surrounding the site is largely residential in nature. Directly to the west of the property is the 399-unit Windemere on the Green condominium project that was built in 1986 with a density of 21.96 du/acre. To the south of the property, across Plaza del Amo, is the 21-unit Plaza Verde project built in 1999 at a density of 12.28 du/acre as well as the 146-unit South Bayport condominium project built in 1987 with a density of 8.6 du/acre.
Premium Site in a Supply-Restricted Market
The site has attributes that make it conducive for numerous types of development projects including residential, mixed-use, retail and more. The site features flat topography, a rectangular shape, a signalized corner location, multiple points of access, strong car counts, good visibility, a low-crime neighborhood, proximity to good schools, shopping, entertainment and the beach, excellent demographics and a desirable South Bay location. This sale offers the opportunity to purchase a ±2.54-acre, infill development site in the desirable Torrance market.
Priced at $10,000,000 - $90.41/SF of Land
Current Use
The site is currently divided between two separate uses. The northerly portion of the property (approximately 1.28 acre) operates as the Allstate Trailer Village, a 25-space all-age mobile home park that is comprised of 21 single-wide homes and 4 double-wide homes. The southerly portion of the site (approximately 1.26 acres) functions as a parking lot and is currently leased out to the United States Postal Service who use the property for overflow parking. The USPS lease will expire on November 11, 2025, and contains no options to further extend the lease.
Zoning/General Plan Land Use
The property is currently zoned Heavy Manufacturing (M2). The General Plan Land Use designation for this site is General Commercial (C-Gen). However, the neighborhood surrounding the site is largely residential in nature. Directly to the west of the property is the 399-unit Windemere on the Green condominium project that was built in 1986 with a density of 21.96 du/acre. To the south of the property, across Plaza del Amo, is the 21-unit Plaza Verde project built in 1999 at a density of 12.28 du/acre as well as the 146-unit South Bayport condominium project built in 1987 with a density of 8.6 du/acre.
Premium Site in a Supply-Restricted Market
The site has attributes that make it conducive for numerous types of development projects including residential, mixed-use, retail and more. The site features flat topography, a rectangular shape, a signalized corner location, multiple points of access, strong car counts, good visibility, a low-crime neighborhood, proximity to good schools, shopping, entertainment and the beach, excellent demographics and a desirable South Bay location. This sale offers the opportunity to purchase a ±2.54-acre, infill development site in the desirable Torrance market.
Priced at $10,000,000 - $90.41/SF of Land
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per AC (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Price | $14,064,000 CAD | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 2.54 AC |
| Price | $14,064,000 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 2.54 AC |
1 Lot Available
Lot
| Price | $14,064,000 CAD | Lot Size | 2.54 AC |
| Price Per AC | $5,537,008 CAD |
| Price | $14,064,000 CAD |
| Price Per AC | $5,537,008 CAD |
| Lot Size | 2.54 AC |
This sale offers the opportunity to purchase a ±2.54-acre infill development site located in the city of Torrance.
Walk Score ®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 7359-027-018 | Improvements Assessment | $0 CAD (2024) |
| Land Assessment | $306,239 CAD (2024) | Total Assessment | $306,239 CAD (2024) |
PROPERTY TAXES
Parcel Number
7359-027-018
Land Assessment
$306,239 CAD (2024)
Improvements Assessment
$0 CAD (2024)
Total Assessment
$306,239 CAD (2024)
zoning
| Zoning Code | TOM2 |
| TOM2 |
-
Derek L. Caldwell -
Matthew Wenzel -
Matthew Doyle -
Marcus & Millichap - Caldwell Industrial Team
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1925 Crenshaw Blvd - Development Site - 2.54 Acres
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