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Affordable Housing Portfolio

LA County

5 Properties

368 Total Units

Call us! 626.204.3300

ABOUT THE ASSET

PROPERTY DESCRIPTIONS

The Park Place Apartments feature a three-story, garden style apartment building situated on +/- 2.629 acres of land. Built in 1965, this single building property consists of 142 units on slab foundation constructed of stucco exterior with a flat roof. The building consists of a favorable unit mix of studios, one, two and three bedroom units with 150+ parking spaces. The studios average 496 square feet, the one-bedroom units average 680 square feet, the two-bedroom units average 870-945 square feet and the three-bedroom units average 1,300 square feet totaling 128,909 rentable square feet. The complex also has a pool and spa, large laundry room, recreation room and room used for after school tutoring, karate, dance and parties. Recent upgrades have been to the HVAC units, flooring, appliances, pool equipment and counter tops. Park Place is centrally located near Kaiser hospital and the upcoming Metro Gold Line.

 

The Sierra Vista Senior Apartments are a pride of ownership property featuring a three-story, garden style apartment. Built in 2007, the Sierra Vista Senior Apartments, consist of 46 units in one building on slab foundation with stucco exterior. There are 3 buildings each 3 stories with pitched ceramic tile roofs. This property is modeled after the Mowani Lodge in Yosemite and offers one and two bedroom units with 46 tuck under parking spaces. The one-bedroom units average 575 square feet and the two-bedroom units average 825 square feet totaling 34,451 of rentable square feet. The complex also has a large recreation room with kitchen, a loft area with a pool table and computer room area, a laundry room, and outdoor barbecue area. Sierra Vista is also located within a block of the local senior center.

The Vista Valle Townhomes are a two-story, garden style apartment on +/- 3.031 acres. Built in 1964, the Vista Valle Townhomes consist of 48 units in eight buildings on slab foundation with stucco exterior and a pitched roof. This property offers two and three bedroom units with 12 2-car attached garages and 73 carport parking spaces. The two-bedroom units average 1,280 square feet and the three-bedroom units average 1,560-1,638 square feet totaling 61,620 of rentable square feet. The complex also has a large recreation room and pool and offers easy access to the 10 fwy.

 

The Kernwood Terrace Apartments feature a two-story, two building apartment building. Built in 1984, this 62+ senior community consists of 51 units on slab foundation constructed of stucco exterior. The building consists of a favorable unit mix of studios, one and two bedroom units with 58 parking spaces plus 8 guest spaces. The studios average 550 square feet, the one-bedroom units average 700 square feet, the two-bedroom units average 900 square feet totaling 44,511 rentable square feet. The complex also has 2 elevators and a spacious recreation room with kitchen that was redone in 2017/2018. Recent upgrades have been to remodel the recreation room, replacing awnings, exterior trash door replacement, common area HVAC units, wrought iron fencing and parking gate motor. The land allows for an additional 26 units.

 

The Olive Manor Senior Apartments feature a two-story building apartment building situated on +/- 0.54 AC of land. Built in 2003, this 62+ senior community consists of 81 units on slab foundation constructed of stucco exterior with a flat roof. The building consists of a favorable unit mix of studios, one and two bedroom units with 41 parking spaces. The one-bedroom and 2 bedroom units averaging 534 square feet totaling 67,789 rentable square feet. The complex offers a large recreation room with kitchen, a tv room, an arts and crafts/meeting room, laundry rooms on the second and third floors and an outdoor sundeck and barbecue area.

PORTFOLIO SUMMARY
PRICE
PRICE/UNIT
PRICE/SF
UNITS
PROPERTIES
GROSS SF
% of AMI
PROFORMA CAP
$75,650,000
$205,571
$266.00
368
5
284,037
47.71%
4.58%

© 2016 Bridge Investment Group of KW Commercial

251 S. Lake Avenue, Suite 320

Pasadena, CA 91101

DRE #01444805