Torrance, California, (October 15, 2024) – Berkadia announced today the sale of Anza South Apartments, a 34-unit, garden-style multifamily property in Torrance, California. Managing Director Steffan Braunlich and Associate Director Trent Gardner of Berkadia El Segundo led the transaction on behalf of the seller, South Bay-based Paladin Company, LLC. The deal closed on October 10.
Anza South Apartments sold for $11.75 million to Gardena-based Swami International at a 5.28% cap rate. The sales price reflects a per-unit price of $345,588. The property was 100% occupied at the time of the sale. John Barbie of Bro-Deals Los Angeles represented the buyer.
“The sale of Anza South Apartments achieved the highest price per unit in Torrance compared to relevant properties in the last 18 months,” said Braunlich. “With over 110 interested parties reviewing the offering memorandum, 13 property tours, and 10 offers received, the demand was undeniable.”
Located at 21010 Anza Avenue, the property is just one mile from the beach and features oversized units averaging 1,121 square feet, each with a balcony or patio. The gated community was built in 1964 and features 34 units.