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Twin Towers Apartments 15909 Vermont Ave 153 Unit Apartment Building $60,373,542 CAD ($394,598 CAD/Unit) 5.38% Cap Rate Paramount, CA 90723
INVESTMENT HIGHLIGHTS
- Well Maintained Institutional Quality Asset Built in 1987
- Desirable Unit Mix of Large One and Two Bedroom-Two Bath Units
- Situated on Approximately 2.3 Acres and Almost 2:1 Secured Parking Ratio
- Approximate 5.5% Cap Rate on Current Income
- Excellent Location Walking Distance to Downtown Paramount & Paramount Town Center
- City of Paramount NOT Subject to Los Angeles Rent Control
EXECUTIVE SUMMARY
We are pleased to present Twin Towers Apartments, a 153-unit apartment community in Paramount, CA. Constructed in 1987, this building is situated on approximately 2.3 acres. This property features an attractive mix of spacious one- and two-bedroom units with large kitchens, wall A/C and heat, and gas cooking. More than 50% of the units have been nicely upgraded with laminate floors, upgraded kitchen cabinets, quartz countertops, ceiling fans, and tile backsplashes. The community has been meticulously maintained and includes a pool area, two spas, multiple barbeque areas, a large manager’s office with a bathroom, a security camera system, a lobby, gated entry, gated subterranean parking, and five laundry facilities. Some of the recent upgrades include the decks, railings, about half of the windows, and the pool. This deal offers an investor the opportunity to purchase a well-maintained and upgraded property with an approximate 5.5% cap rate and upside in market rents.
PROPERTY FACTS
| Price | $60,373,542 CAD | Apartment Style | Garden |
| Price Per Unit | $394,598 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 2.29 AC |
| Cap Rate | 5.38% | Building Size | 115,654 SF |
| Gross Rent Multiplier | 11.96 | Average Occupancy | 100% |
| No. Units | 153 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1987/2001 |
| Property Subtype | Apartment | Parking Ratio | 2.26/1,000 SF |
| Zoning | PDPF | ||
| Price | $60,373,542 CAD |
| Price Per Unit | $394,598 CAD |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| Gross Rent Multiplier | 11.96 |
| No. Units | 153 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.29 AC |
| Building Size | 115,654 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1987/2001 |
| Parking Ratio | 2.26/1,000 SF |
| Zoning | PDPF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Pool
- Tenant Controlled HVAC
- Pet Play Area
- Online Services
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 134 | $2,617 CAD | 725 |
| 2+2 | 19 | $3,220 CAD | 960 |
1 1
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $9,503,264 CAD | |
| Land Assessment | $5,024,615 CAD | Total Assessment | $14,527,879 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$5,024,615 CAD
Improvements Assessment
$9,503,264 CAD
Total Assessment
$14,527,879 CAD
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Twin Towers Apartments | 15909 Vermont Ave
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