1201 Cabrillo AVE #308 Torrance, CA 90501

Own a home in Torrance at one of the lowest prices in the Torrance market today! This is a top floor unit, move-in ready condition condominium in the desirable Torrance Downtown area. The kitchen is spacious with a countertop overlooking the living room and outdoor balcony area with city views. The unit boasts multiple storage areas and a walk in closet in the master bedroom. The master bathroom is attached to the master bedroom. The unit has its own additional separate storage room down the hall on the same level. The unit is in a secure, gated complex. The units are in an active, lively downtown Torrance with restaurants, bars, bakeries, little cafes, and coffee shops all within walking distance. Units have their own subterranean garage with 1 parking spot. This is a great opportunity to purchase a home in Torrance at this fantastic price in a highly desirable location. The property is located in the City of Torrance Redevelopment Area with Moderate Income limitations. Buyers must qualify and be approved by the City of Torrance Community Development Department based on sales price, income, terms and conditions of the Affordability Agreement (see supplements). A potential buyer income must meet the moderate household income set by California Housing and Community Development Department for Los Angeles County, which are as follows for the State 2021 income limits for Moderate income household: 1 person household-$67,200, 2 person household-$76,800. Ideal buyer will make close to those incomes without going over. All income of the buyer's household will be considered. Income from person(s) who will not residing on the property shall not be included. In accordance with the Affordability Agreement which the property owner is bound by, the property cannot be rented and shall be owner occupied. A one-time gift for the down payment may be allowed. The sales price is not based on market value. In accordance with the Affordability Agreement, the maximum sales price is based on the housing expenses for moderate income household not exceeding 35% of area median income.