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Swami International Acquires Anza South Apartments In Torrance For $11.7 Million
SOLD
$11,700,000
California
See Similar DealsMultiFamily
Sold 10/17/2024
SOLD
Swami International Acquires Anza South Apartments In Torrance For $11.7 Million
21010 Anza Avenue
See Similar DealsMultiFamily
Sold 10/17/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in this transaction is the Anza South Apartments located at 21010 Anza Avenue in Torrance. This multifamily asset, constructed in 1964, consists of 34 residences with an average size of 1,121 square feet. The sale price for this property was $11,700,000, resulting in a price per unit of $344,118.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,700,000
- Units: 34
- Average Size: 1,121 square feet
- Address: 21010 Anza Avenue
- Market: Torrance
- Buyer's Representative: John Barbie - Bro-Deals
- Seller's Representatives: Steffan Braunlich & Trent Gardner - Berkadia
Berkadia facilitated the sale, with Swami International acquiring the property from Paladin Co. The transaction underscores the involvement of experienced representatives in the multifamily market in Torrance.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$624,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,567.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,463.97
Annual Debt Service$665,567.63
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