Ray Pellegrino Acquires Torrance Beach Multifamily For $10.2M

Located in Torrance Beach, the multifamily property at 116 Paseo De La Concha has recently been sold. The transaction, which took place on 10/08/2021, involved a total of 20 units with a sale price of $10,200,000. This equates to a price per unit of $510,000. The property spans approximately 16,350 square feet, resulting in a price per square foot of $623.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $10,200,000
• Address: 116 Paseo De La Concha
• Market: Torrance Beach
• Units: 20
• Price per Unit: $510,000
• Square Footage: 16,350
• Price per Square Foot: $623

The buyer in this transaction was Ray Pellegrino, while the seller was Ryuhei Tanaka. The deal was facilitated by brokers Mason Rowland and Ryan Rembert of KW Commercial, along with Sean Nishio of Project 7 Enterprises.