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The Bascom Group Spends $14 Mil on Torrance Multifamily Property

4/28/17

The Bascom Group has acquired Harvard Villa Apartments, a 64-unit, infill apartment community in the LA South Bay city of Torrance, for $14 mil ($219k/unit). Bascom views Harvard Villa as a strong value-add opportunity, and plans to implement a modern update to the unit interiors and property exterior.

Harvard Villa Apartments is located at 20341 Harvard Blvd, east of Western Ave and south of Del Amo Blvd. Built in 1965, the two-story property features a playground, BBQ area, laundry facilities and assigned parking.

Harvard Villa is less than five miles from the Pacific Ocean and located near several interstates that provide outstanding local and regional access, including Interstate 405, 110, 710, 105, and Pacific Coast Highway. Significant employers within a 30-minute commute from Harvard Villa include Honda North America, Boeing Satellite Systems, Raytheon, AT&T Entertainment Group, Harbor-UCLA Medical Center, Xerox, Mattel, and the Port of Los Angeles.

Toyota’s former 110-acre corporate campus, located a block from Harvard Villa, is currently being marketed for sale. Several major technology and automotive companies have been pursuing the site, including Amazon, Tesla, and Space X.

Hooman Emanuel of Emanuel Real Estate Group represented the seller, a long-time, private owner. Erich Pryor and Thomas Sherlock with Talonvest Capital arranged the $11.45 mil loan from TCF National Bank. James D’Argenio and Chang Liu sourced and managed the acquisition for Bascom.




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