Investment Overview

The Parkside Apartments sits at the end of a cul de sac in an exceptional location near the city’s dominant retail intersection of Imperial Highway and La Habra Boulevard. This asset is well-positioned to capitalize on La Mirada’s high-demand, severely supply constrained multifamily rental market. Of approximately 14,679 occupied housing units in LA Mirada, 77% are owner-occupied, while only 23% provide accommodation for renters. Very few housing opportunities exist for those seeking 1 bedroom units. The multifamily supply constraints also have led to limited opportunities for investors to acquire properties in this city. This offering is comprised of an ideal unit mix of eight 1 bedrooms and one 3 bedroom / 1.75 bath townhome unit. Because it currently operates with below-market schedule rent in its current condition, a new owner has a clear path to achieving significant rental upside with no physical value-add upgrades. THE BOTTOM LINE: The dearth of rentals (especially 1 bedroom units) in this very desirable community creates a unique, stable and smart investment opportunity.