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Koto Estates Co., LTD Acquires 121-Unit Multifamily Property In Torrance For $71.5M

Property Image
SOLD
$71,500,000

California

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MultiFamily
Sold 09/06/2024
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Property Image
SOLD

Koto Estates Co., LTD Acquires 121-Unit Multifamily Property In Torrance For $71.5M

25935 Rolling Hills Road

See Similar Deals
MultiFamily
Sold 09/06/2024
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The Highlands is a luxury multifamily property consisting of 121 units located at 25935 Rolling Hills Road in Torrance, CA. It was sold for $71.5 million, which translates to a price per unit of $590,909. The property has undergone a renovation worth $16.5 million, enhancing its value within the multifamily market of Torrance.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $71,500,000
  • Units: 121
  • Price Per Unit: $590,909
  • Buyer: Koto Estates Co., LTD
  • Seller: Ocean Ten, LLC
  • Buyer's Representative: Priscilla Nee & Yasuyuki Kojima - CBRE
  • Seller's Representative: Eastdil Secured

Koto Estates Co., LTD was represented in this transaction by brokers Priscilla Nee and Yasuyuki Kojima from CBRE, while the seller, Ocean Ten, LLC, was advised by Eastdil Secured. The South Bay region, where the property is located, continues to show strong market dynamics characterized by low vacancy rates and increasing rental prices.

Players

Priscilla Nee
CBRE
Priscilla Nee
10 deals$166.5M volume
BROKER

Details

SOLD
IMAGE: Priscilla Nee DATE: 09/06/2024 ADDRESS: 25935 Rolling Hills Road MARKET: Torrance ASSET TYPE: Multifamily BUYER: Koto Estates Co., LTD SELLER: Ocean Ten, LLC BUYER'S REP: Priscilla Nee & Yasuyuki Kojima - CBRE (@CBRE) SELLER'S REP: Eastdil Secured (@EastdilSecured) SALE PRICE: $71,500,000 UNITS: 121 ~ PPU: $590,909 NOTE: Koto Estates Co., LTD acquired The Highlands, a luxury 121-unit multifamily property in Torrance, CA, for $71.5M, following a $16.5M renovation. CBRE represented Koto in the deal, with Eastdil Secured advising the seller, Ocean Ten, LLC; South Bay's multifamily market continues strong, with low vacancy and rising rents.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,813,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$254,024.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$338,946.48
Annual Debt Service$4,067,357.73