Multifamily

Town Center Terrace

16200 Vermont Ave, Paramount, CA 90723

Listing Price: $26,000,000

Cap Rate
2.60%
Number of Units
158
Occupancy
98.00%
Price/Unit
$164,557
Price/Gross SF
$248.25
Gross SF
104,735

Investment Overview

TOWN CENTER TERRACE is a value-add investment opportunity. As the owner is out of state, they have elected to keep the current rents below market to reduce turn over. All one-bedroom apartments rent for $1,033. The City of Paramount does not have a rent control ordinance. The owner accepts Section 8 tenants, but it is not a city or state requirement. Section 8 2021 Fair Market Rent is $1,605. There is immediate upside for a new investor to renovate the apartment homes and raise rents.

Investment Highlights

  • 158 Apartment Homes, Built in 1984
  • Value Add Opportunity: Current Rents Are Below Market Rent
  • Surface Parking for 98 With Entrances on Two Streets
  • The City of Paramount Does Not Have a Rent Control Ordinance
  • Separately Metered for Utilities

Exclusively Listed By

Listing Price: $26,000,000

Cap Rate
2.60%
Number of Units
158
Occupancy
98.00%
Price/Unit
$164,557
Price/Gross SF
$248.25
Gross SF
104,735

Investment Highlights

  • 158 Apartment Homes, Built in 1984
  • Value Add Opportunity: Current Rents Are Below Market Rent
  • Surface Parking for 98 With Entrances on Two Streets
  • The City of Paramount Does Not Have a Rent Control Ordinance
  • Separately Metered for Utilities

Investment Overview

TOWN CENTER TERRACE is a value-add investment opportunity. As the owner is out of state, they have elected to keep the current rents below market to reduce turn over. All one-bedroom apartments rent for $1,033. The City of Paramount does not have a rent control ordinance. The owner accepts Section 8 tenants, but it is not a city or state requirement. Section 8 2021 Fair Market Rent is $1,605. There is immediate upside for a new investor to renovate the apartment homes and raise rents.

Exclusively Listed By

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