Torcora Invests in Los Angeles

After decades of investment in Orange County and San Diego, we are happy to announce our acquisition of two properties in Silverlake. Chairwoman TJ and Property Management Director Christine G led the search.

"Investing in Los Angeles is so different than our properties in Irvine. There is definitely progress but evaluating future outlook in gentrifying areas look so much different than a planned community,” remarked TJ.

63 homes are planned on 2753 Waverly Dr. in the Silverlake neighborhood of Los Angeles. This plot of land overlooks Glendale, Mt. Washington and the LA River. Homes from phase 1 just completed construction and include 2-4 bedroom condominums up to 1,900 sqft.

“It’s difficult to manage risk in new ventures because that’s what they are, new opportunities. We took a look at the neighboring Echo Park, Downtown LA’s Barker lofts, single family residences near Hollywood area. This part of the city of Los Angeles is accessible to multiple suburban shopping centers within 15 minutes, even during rush hour. It is also a stone’s throw for residents commuting to downtown Hollywood, or Burbank.”

Our all in acquisition cost was approximately $1.3m for 2 units. HOA costs will be approximate $260 per month. We estimate gross rental revenue to be close to $5,600 per month.