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Town Center Terrace Acquires Multifamily Asset In Paramount For $26.15M

16200 Vermont Avenue
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This MultiFamily property located in CA was sold for $26,150,000 almost 4 years ago. The brokers of the deal were David Ridgway and Rick Raymundo

A multifamily property located at 16200 Vermont Avenue in Paramount was recently sold for a total of $26,150,000. The property, known as Town Center Terrace, consists of 158 units with an average price per unit of $165,506. The total square footage of the property is 104,735, resulting in a price per square foot of $249. The sale took place on June 21, 2021, with a cap rate of 2.58% and a gross rent multiplier (GRM) of 13.35. The transaction was facilitated by brokers Rick Raymundo and David Ridgway from Marcus & Millichap on behalf of the buyer and seller, respectively.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $26,150,000
  • Units: 158
  • Price Per Unit (PPU): $165,506
  • Square Footage: 104,735
  • Price Per Square Foot (PPSF): $249
  • Rate: 2.58%
  • Gross Rent Multiplier (GRM): 13.35

Rick Raymundo and David Ridgway, representing Marcus & Millichap, played a pivotal role in facilitating this sale. Their expertise and negotiation skills were instrumental in completing the transaction successfully.

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Deals
  • Location
    16200 Vermont Avenue, Paramount, CA, USA16200 Vermont Avenue, Paramount, CA, USA
  • Sale Price
    $26,150,000$26,150,000
    $249 PPSF$249 PPSF
  • Area
    104,735 SF104,735 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

David Ridgway

David Ridgway

Deals1
Sold$26.2M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Rick Raymundo & David Ridgway DATE: 06/21/2021 ADDRESS: 16200 Vermont Avenue MARKET: Paramount ASSET TYPE: Multifamily BUYER: Town Center Terrace SELLER: Paramount Housing Partnership BROKERS: Rick Raymundo (@LACMultifamily) & David Ridgway - Marcus & Millichap SALE PRICE: $26,150,000 UNITS: 158 ~ PPU: $165,506 SF: 104,735 ~ PPSF: $249 RATE: 2.58% GRM: 13.35

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16200 Vermont Avenue

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