2701 Randolph St
Huntington Park, CA 90255
Bella Vista Senior Apartments · Multifamily Property For Sale · 225 Units
![2701 Randolph St, Huntington Park, CA for sale - Primary Photo - Image 1 of 1](https://images1.loopnet.com/i2/t_4JdkeJoLfJb80--XxKWztDf3cerriE7wu1u_pW_LY/110/2701-Randolph-St-Huntington-Park-CA-Primary-Photo-1-Large.jpg)
PROPERTY FACTS
No. Units | 225 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Mid Rise |
Building Class | B |
Lot Size | 1.09 AC |
Building Size | 121,632 SF |
Average Occupancy | 95% |
No. Stories | 5 |
Year Built | 1989 |
UNIT AMENITIES
- Dishwasher
- Disposal
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
- Views
- Freezer
SITE AMENITIES
- Laundry Facilities
- Multi Use Room
ABOUT 2701 RANDOLPH ST , HUNTINGTON PARK, CA 90255
Marcus & Millichap is pleased to present Seville Gardens, a 225-unit senior housing complex located at 2701 Randolph Street in Huntington Park, California. Seville Gardens was built in 1989 on a 1.09-acre lot that occupies an entire block. The building offers 108 studios, 114 one-bed/one-bath units, three two-bed/one-bath units, and an amenities package that includes secure parking and access, balconies, a community recreation room, elevators, and on-site laundry. Currently, tenants are responsible for gas and electricity expenses, while the owner pays for water, sewer, and trash. A new investor could add value by implementing a RUBS program to recoup these expenses. Seville Gardens is currently under a building covenant that mandates it be used as 55+ housing with 20 percent of units rented to low-income tenants until 2038. Demand for senior housing communities is expected to increase: the percentage of Americans over the age of 65 is projected to reach 20 percent of the total population by 2028 (up from 13 percent in 2008), and home ownership rates for Americans over 75 are fading. With this growing tenant base, steady cash flow on current rents and substantial potential upside, Seville Gardens presents an excellent investment opportunity. Huntington Park is a densely populated, working-class city where the majority of housing units are renter-occupied. 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 $4MM beautification project that aimed to make the street more pedestrian-friendly and attract more shoppers.
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
Studios | 108 | - | - |
1+1 | 114 | - | - |
2+1 | 3 | - | - |
PROPERTY TAXES
Parcel Number | 6320-011-041 | Improvements Assessment | $12,772,110 |
Land Assessment | $375,301 | Total Assessment | $13,147,411 |
ZONING
Zoning Code | HPCN* |
Listing ID: 14825716
Date on Market: 1/10/2019
Last Updated:
Address: 2701 Randolph St, Huntington Park, CA 90255
The Multifamily Property at 2701 Randolph St, Huntington Park, CA 90255 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
MULTIFAMILY PROPERTIES IN NEARBY NEIGHBORHOODS
- Southeast Los Angeles Apartment Buildings
- Koreatown Apartment Buildings
- Mid-Wilshire Apartment Buildings
- Northeast Los Angeles Apartment Buildings
- East Hollywood Apartment Buildings
- South Bay Apartment Buildings
- Westlake Apartment Buildings
- South Los Angeles Apartment Buildings
- Downtown Los Angeles Apartment Buildings
- South Central LA Apartment Buildings
- West Adams Apartment Buildings
- Harvard Heights Apartment Buildings
- Mid-City Apartment Buildings
- Echo Park Apartment Buildings
- Arlington Heights Apartment Buildings
NEARBY LISTINGS
- 945 W 76th St, Los Angeles CA
- 1801 S Flower St, Los Angeles CA
- 440-470 W 79th St, Los Angeles CA
- 932 W 74th St, Los Angeles CA
- 1915-1917 S Central Ave, Los Angeles CA
- 716 W 80th St, Los Angeles CA
- 501 88th st, Los Angeles CA
- 4326 Hammel St, East Los Angeles CA
- 1024 W 24th St, Los Angeles CA
- 1241 W 95th St, Los Angeles CA
- 6908 Crafton Ave, Bell CA
- 811 W 97th St, Los Angeles CA
- 5150-5152 S Normandie Ave, Los Angeles CA
- 538 W 82nd St, Los Angeles CA
- 8417 S Halldale Ave, Los Angeles CA