The recent sale of a Torrance apartment complex for $71.5 million highlights the high demand and robust pricing trends in the South Bay multifamily market.
With its recent purchase, the Japan-based Koto Estate Company has demonstrated its confidence in the South Bay market's potential, considering the property's remarkable transformation since its last sale.
The remodeled and rebranded apartment complex, now The Highlands, showcases upscale amenities and rates that are significantly above the regional average, indicating a potential market shift.
Colliers International data illustrates a notable price appreciation in the South Bay multifamily market, with an average price per unit rising from $274,000 to $316,000 in just a few months.
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