Description
Incredible investment opportunity! The one you've been looking for...Coral Tree is a 3 story 31 unit multifamily asset well located in Silicon Beach in the trendy and uber popular community of Mar Vista. The complex is made up a highly desirable and ideal attractive unit mix of 1 (0+1), 21 (2+2), and 9 (3+3) apartment homes. The property features gated entrance & semi-subterranean parking, has elevator service, balconies, fireplaces, storage rooms, laundry care facility and security cameras. There is approximately +27% in upside for the new investor to capture. This property is well positioned allowing new ownership to allocate their resources towards renovating units and bringing them to market rate levels. The property was built in 1987 and therefore not subject to Los Angeles RSO. NON-RENT CONTROL (AB1482 only). Management has indicated 42% of units next increase is due in March 2023; 5% + CPI / 10% max.
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69BEDS
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0.59ACRES
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0BATHS
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01/2 BATHS
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35,851SQFT
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$443$/SQFT
School Ratings & Info
Description
Incredible investment opportunity! The one you've been looking for...Coral Tree is a 3 story 31 unit multifamily asset well located in Silicon Beach in the trendy and uber popular community of Mar Vista. The complex is made up a highly desirable and ideal attractive unit mix of 1 (0+1), 21 (2+2), and 9 (3+3) apartment homes. The property features gated entrance & semi-subterranean parking, has elevator service, balconies, fireplaces, storage rooms, laundry care facility and security cameras. There is approximately +27% in upside for the new investor to capture. This property is well positioned allowing new ownership to allocate their resources towards renovating units and bringing them to market rate levels. The property was built in 1987 and therefore not subject to Los Angeles RSO. NON-RENT CONTROL (AB1482 only). Management has indicated 42% of units next increase is due in March 2023; 5% + CPI / 10% max.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-03-31T00:28:44.623. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.