The apartment complex is a multifamily community of 60 units on West 239th Street. It is designed in a garden style with all buildings being two stories tall. It was built in 1963 and each unit averages just over 1,000 square feet in size. It has a mix of units with one, two, and three bedrooms, as well as studio units. Outdoor gathering areas, a courtyard, and pool are among its amenities.
The community is on close to two acres in Los Angeles County in the submarket of the South Bay. This area is close to major employers, including technology, healthcare, defense, and aerospace companies, in addition to the transportation infrastructure and coastal amenities of the region. Brochure printing can be used to highlight the features and amenities of such communities.
The executive vice president at CBRE, Derrek Ostrzyzek, said:
“Tournament Patio Apartments presented a rare opportunity to acquire a well-located multifamily asset in one of Southern California's most supply-constrained coastal submarkets. The property's location in the heart of Torrance, proximity to major employment centers and significant value-add potential generated strong investor interest throughout the marketing process.”
CBRE Research has found that occupancy in the multifamily market was at 95.3% during the first three months of the year, highlighting the resilience of the demand from renters.