2701 RANDOLPH STREET
Coldwell Banker Commercial West is pleased to present the Seville Gardens Apartment Community, a 225-unit senior housing apartment complex located at 2701 Randolph Street in Huntington Park, California. Seville Gardens was built in 1989 on a sizable 1.09-acre lot that occupies a full block. The building offers 108 studios, 114 one-bed/one-bath units, three two-bed/one-bath units, with amenities that comprise of secure parking and access, balconies, a community recreation room, elevators, and onsite laundry.
 
Currently, tenants are responsible for gas and electricity expenses, while the owner pays for water, sewer, and trash. An investor can add value by applying the RUBS program to regain these expenses.
 
Seville Gardens is currently under a building covenant that mandates it be used as 55+ housing until 2038. With this emergent tenant base, steady cash flow on current rents and substantial potential upside, Seville Gardens presents an excellent investment opportunity. Area rentals boast very low vacancy rates.
 
Seville Gardens occupies an entire block on Randolph Street between Seville and Stafford avenues, a quarter mile from Pacific Boulevard, Huntington Park’s main commercial thoroughfare. Pacific Boulevard recently underwent a $4,000,000 beautification project that intended to make the street more pedestrian-friendly and attract more shoppers. The current owner bought the property and built this building.
HIGHLIGHTS

• Offered at: $40,000,000

• Rentable Square Feet: 121,632

• Lot Size Square Feet: 47,306

• Year Built: 1989

• Zoning: HPCN

• Rent Control: State of California

• Opportunity to Acquire a 100 plus Unit Asset in the Southeast Los Angeles Submarket 

• Property is a 225-Unit 1989 Construction with 51% One-Beds, 48% Studios, and 1% Two-Beds

• Covenant Mandates Use as 55+ Housing until 2038. 

• Value-Add Opportunity: Improve Units to Capture Substantial Rental Upside. 

• Implement a RUBS Program to Reduce Expenses.

• Proximate to Retail and a Community Hospital - Walk Score: 92

• Asset Located in an Opportunity Zone

GALLERY

MEET THE LISTING AGENT

Tom Papoulias, Vice President, Coldwell Banker Commercial West, has the exclusive listing.

 

Mr. Papoulias is with the Multi-Family Division of Coldwell Banker Commercial West. Mr. Papoulias has been in commercial real estate sales and acquisitions for over 30 years and is actively involved on the pulse of the commercial real estate market. Mr. Papoulias’ commitment, integrity, and focus has been an essential part of his success in Commercial Real Estate.

 

Mr. Papoulias began his career with Marcus & Millichap in Newport Beach California specializing in multifamily Sales and acquisitions where he received multiple outstanding achievement awards. From there he was named top Commercial broker Gross Commercial Sales for the Western Region. This award honors the top sales professionals in each region who had the top Commercial Gross Commercial Sales for the year. In addition, in the same year, Mr. Papoulias also received the prestigious Chairman's Circle- Diamond for the number #1 Broker in the Western Region in Commercial Sales. Mr. Papoulias holds a California Agents license and an Arizona Brokers License.

Tom Papoulias

Vice President, Coldwell Banker Commercial West
License #01145581
Cell phone: 562-858-7476
Email: Tom@TomPapoulias.com