TORRANCE, Calif., Aug. 13, 2013 – Marcus & Millichap Real Estate
Michael DiSimone, Ron Harris, and Joseph Smolen of Marcus & Millichap’s Los Angeles office, represented the seller, 3708 Spencer Ltd. The buyer, also represented by the listing agents, is a local private investor.
“This was the first time the property had been on the market in approximately 40 years,” says DiSimone. “We sourced a highly motivated group of potential buyers that included some foreign groups.”
“Located in one of the most desirable submarkets in the Los Angeles MSA, the building has been well maintained and yet also provides the new owner with significant value enhancement opportunities,” adds Smolen.
Built in 1968 on a 33,018-square-foot parcel just east of Hawthorne Boulevard and south of Del Amo Boulevard, the property is situated in a medium density area of Torrance near key employers and some of the South Bay’s top public schools.
The wood-frame and stucco building features a variety of one-, two- and three-bedroom apartments and townhome-style units, a quiet courtyard setting with pool, on-site laundry facilities, controlled access entry, a manager’s office and lobby and gated semi-subterranean assigned parking.