Good Capital Group Acquires Tournament Patio Apartments in Torrance for $21 Million in CBRE-Brokered Deal
Good Capital Group has purchased Tournament Patio Apartments, a 60-unit multifamily community in Torrance, California, for $21 million. The transaction was announced August 25, 2026, with CBRE representing the seller, JS Bower Foundation.
The sale works out to approximately $350,000 per unit and roughly $342 per square foot, based on the property's approximately 61,380 square feet of rentable area across its 60 apartments.
Deal Details and Brokerage Team
CBRE's Derrek Ostrzyzek, Anna Kampling, Rachel Parsons, Kenji Thomas and Mike Murphy represented JS Bower Foundation in the transaction. Good Capital Group was the buyer.
"Tournament Patio Apartments presented a rare opportunity to acquire a well-located multifamily asset in one of Southern California's most supply-constrained coastal submarkets," said Ostrzyzek, executive vice president at CBRE. "The property's location in the heart of Torrance, proximity to major employment centers and significant value-add potential generated strong investor interest throughout the marketing process."
Property Profile
Tournament Patio Apartments is located at 4111 West 239th Street in Torrance, within the South Bay submarket of Los Angeles County. The two-story, garden-style property was built in 1963 and sits on approximately 1.76 acres. The community offers 60 units with an average unit size of 1,023 square feet, with a mix of studio, two-bedroom and three-bedroom floor plans. Amenities include a pool, courtyard and outdoor gathering areas.
CBRE characterized the acquisition as a value-add opportunity, citing the property's vintage and the potential to close the gap with newer Class B and B-plus stock through interior renovations and capital improvements.
South Bay Market Context
Torrance's South Bay submarket is characterized by limited new multifamily supply, driven by land costs, zoning constraints and the built-out nature of the surrounding area. The property benefits from proximity to major employment clusters in aerospace and defense, healthcare, and technology, as well as the region's coastal amenities and transportation infrastructure.
According to CBRE Research, the Los Angeles multifamily market entered 2026 with occupancy at 95.3% in the first quarter, reflecting continued resilience in renter demand. CBRE's Greater Los Angeles market outlook also notes that multifamily fundamentals remain supported by supply constraints in many infill coastal submarkets, with renter demand underpinned by high barriers to homeownership and the region's diverse employment base.
Nationally, U.S. multifamily vacancy stood at 4.3% in the second quarter of 2026, up just 10 basis points year-over-year, while net absorption of 167,000 units outpaced new completions for the second consecutive quarter. Average monthly rents reached $2,257 nationally in Q2 2026, up 0.5% year-over-year and 1.5% quarter-over-quarter. Construction completions fell 14% year-over-year and are expected to decline further, a trend that supports the investment thesis for existing infill assets in supply-constrained markets such as the South Bay.
About the Firms
CBRE Group, Inc. (NYSE: CBRE) is a Fortune 500 and S&P 500 company headquartered in Dallas and is the world's largest commercial real estate services and investment firm, with more than 155,000 employees serving clients in more than 100 countries.
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