Portofino Village Apartments 13202 Downey Ave 64 Unit Apartment Building $33,047,797 CAD ($516,372 CAD/Unit) 5.20% Cap Rate Paramount, CA 90723

Portofino Village Apartments presents a rare opportunity to acquire a well-maintained 64-unit multifamily community in the highly accessible Southeast Los Angeles submarket of Paramount, California. Located at 13202 Downey Avenue, the property features an attractive garden-style layout comprised entirely of spacious two-bedroom floor plans, including twenty desirable townhome-style units averaging approximately 947 square feet per unit.
Originally constructed in 1987, the property offers investors a strong combination of stable in-place cash flow and future rental upside. The community is only subject to California AB-1482 rent regulations and benefits from approximately $2.6 million in recent capital improvements, including extensive unit renovations, stair upgrades, window upgrades, a new pool and spa water heater, and fresh exterior painting.
Portofino Village Apartments provides residents with an attractive amenity package including central HVAC, individual water heaters, in-unit laundry hookups, fireplaces in upstairs units, a resort-style pool and spa, on-site laundry facilities, landscaped walkways, and ample parking spaces. The property’s low-density garden-style design, tile roofing, and spacious layouts continue to appeal to long-term tenants seeking quality suburban apartment living.
Conveniently positioned near major transportation corridors including the 105, 710, and 91 Freeways, the property provides residents with excellent access to employment centers throughout Los Angeles and Orange County. Nearby retail, dining, schools, and recreational amenities further support strong tenant demand in this established residential neighborhood.