Bella Vista Apartments
Multifamily | 5.30% CAP | 12 Units
Marketing description
Bella Vista presents a rare opportunity to acquire two side-by-side six-unit buildings in the high-demand Harbor Gateway submarket. With major capital improvements already completed and a significant gap between current and market rents, this asset is perfectly positioned for an investor seeking a stabilized property with a clear path to a high-yield exit.
Bella Vista is a 12-unit apartment property located in the Torrance P.O. neighborhood of Los Angeles. The property consists of two 6-unit buildings with a rentable square footage of 7,756 square feet and is situated on two parcels totaling 14,007 square feet. Built in 1964, the property is subject to the City of Los Angeles Rent Control Ordinance.
The subject property consists of 8 one-bedroom / one-bath units, and 4 two-bedroom / one-bath units. The curb appeal features a two-tone paint scheme, clean landscaping and wrought-iron gates. Parking consists of a total of 12 uncovered spaces located at the rear of the property. The building is separately metered for electricity and gas. Ownership has recently upgraded the elevated walkways, painted the building, and added a high-end camera system for tenant safety.
Investment highlights
- Located along Western Avenue, providing easy access to Old Town Torrance and the 405 Freeway.
- Current rents sit approximately 25% below market, providing a conservative 7.5% Cap Rate pro forma upon unit turnover and renovation.
- Priced at a large discount to replacement cost.
- Reduced immediate ownership costs with new roofs, fresh exterior paint, new individual water heaters, upgraded exterior walkways, and a high-end security camera system.
- Boasts an excellent Jobs Proximity Index of 92.0, with over 560,000 jobs within a 20-minute commute.
- Comprised of 8 large one-bedroom units and 4 two-bedroom units, catering to the area's primary renter demographic.
- An undersupplied affordable rental market with zero significant apartment deliveries within a 1-mile radius.
- Two identical 6-unit buildings situated on two parcels, offering flexible long-term exit strategies.
- Featuring a modern two-tone paint scheme, professional landscaping, and wrought-iron gating.
- Units are individually metered for both gas and electricity, minimizing landlord utility exposure.
- 12 dedicated uncovered parking spaces located at the rear of the property.
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