$9.6M Acquisition Loan on the San Remo Apartments in Torrance

The buyer of record on the San Remo Apartments is not an institution or a syndicate; county records list an individual, who is not named here beyond the public record. The purchase of the Torrance community came with a $9,600,000 JPMorgan Chase deed of trust, executed May 5, 2026 and recorded May 28, more than doubling the largest debt previously recorded on the property.

San Remo, at 3477 Maricopa Street in the Delthome area of Torrance, is a 1969 built, two story gated community of two and three bedroom units, 926 to about 1,008 square feet, with a pool and clubhouse, marketed partly as off campus housing for nearby El Camino College. Rents start at $2,760 a month per current listings. On unit count the sources differ and both are reported: the county record carries 42 units, while one listing service states 45.

The debt history is a forty year procession of patient capital: a private mortgage in 1984, a Torrance savings and loan in 1988, Wells Fargo on ten year paper in 2001, Symetra Life Insurance at $1,800,000 in 2011, and TIAA at $4,500,000 on a ten year term in 2020. Insurance company and thrift lenders held this asset's debt for decades at modest balances; the 2026 acquisition loan reset the scale in a single recording.

J.P. Morgan's published multifamily program takes stabilized buildings of five or more units from $500,000 to $25,000,000 and up, requiring two years of operating history and a rent roll rather than tax returns, with Los Angeles served by a dedicated commercial term lending office. Those are program terms from the bank's own pages. This loan, one of 21 tracked J.P. Morgan closings and five in Los Angeles County, ranks 32nd of 58 in the tracked market.

The tracked Los Angeles multifamily band around it is dense: $9,400,000 in construction financing from Self-Help Ventures Fund, $9,100,000 from J.P. Morgan in Azusa, and a $10,000,000 Arixa Capital bridge loan in Beverly Hills. For private individuals buying institutional scale apartment assets, this record is the proof of concept: the largest bank multifamily platform in the country underwrote a forty plus unit community to a personal borrower at nearly $10,000,000, on the same program terms it publishes for everyone.