25th Street Flats 

2177 W 25th Street
Los Angeles, CA
Sold For: $1,800,000 - 11 Units


  • Sold for list price at a 3.95% cap rate

  • Received multiple all-cash offers within the first three days on the market and the winning offer included a $100,000 non-refundable deposit upfront and no loan contingency

  • 11-unit apartment building with 62% rental upside and value-add potential

  • Within a five-minute drive from Downtown Los Angeles, Exposition Park, Koreatown and the Metro Expo/Western Station

  • Nearby Metro Crenshaw/LAX Line is currently under construction with completion expected in 2019

  • University of Southern California, with 45,500 students and 20,000+ staff, is located two miles away

  • Asking rents in the Mid-City/West Adams submarket grew by an average of 7.0% in 2017

  • Submarket occupancy averaged 97.5% over the past five years

  • Employee base of 651,700 within five miles of the property

  • Jefferson Park home values have gone up 7.2% over the past year

 

 
 

1140 Venice 

1140 Venice Boulevard
Venice, CA
Sold For: $14,000,000 - 40 Units


  • Sold all cash for $14 million at a 3.15% cap rate and $461 per SF

  • Buyer submitted a strong offer with a $1 million deposit upfront, 1-day DD and 36-day close

  • First time on the market in nearly 30 years

  • Well-maintained 40-unit apartment building situated on a large 18,435-square-foot lot that is not subject to rent control and offers the potential for 32% in rental upside

  • Given that the property is in mostly original condition, the opportunity is available to add value and capture top-of-market rents through strategic renovations to the unit interiors (i.e. fixtures, countertops, flooring, appliances) and common areas

  • Favorably located in highly sought-after Venice, the property is positioned just 0.7 miles from Abbot Kinney, 1.3 miles from the Venice Canals and 1.4 miles from world-famous Venice Beach and Boardwalk

  • At the center of the Silicon Beach creative tech hub, which is home to notable area employers Google, Snapchat, Twitter and many more

  • Submarket asking rents grew by an average of 7.0% in the past three years

  • Occupancy in the submarket averaged 94.8% over the past five years

  • Average household income within one mile of the property is $142,209

  • Employee base of 289,869 within a five-mile radius of the property

  • Venice home values have gone up 9.8% over the past year

 

 
 

Laurel Pointe Apartments 

13607 Cordary Avenue
Hawthorne, CA
Sold For: Confidential - 115 Units


  • Non-contingent, all-cash offer with $1 million deposit upfront and a 30-day close

  • Buyer acquired a 43% LTV CMBS loan with above-market rate terms

  • Non-rent-controlled 115-unit apartment community on a large 62,407 SF lot with the potential for 17.8% in rental upside

  • Opportunity to add value through strategic renovations to the unit interiors (i.e. fixtures, countertops, flooring, appliances) and second-level upgrades to the common areas

  • Positioned 2 miles from SpaceX, 3 miles from the future NFL stadium, 5 miles from the beach and 6 miles from LAX

  • Abutting the desirable coastal communities of the South Bay and Silicon Beach, Hawthorne offers proximity to major employment hubs and the beach while providing affordable livability in a neighborhood that is on a continuing path of progress

  • Hawthorne ranks first out of Los Angeles metro's 37 submarkets for the highest occupancy rate, which averaged 98.8% over the past three years

  • Hawthorne home values rose 9.6% over the past year

  • Submarket asking rents grew by an average of 5.7% over the past three years

  • Average household income within a five-mile radius of the property is $91,960

 

 
 

Los Feliz Club

1800 N New Hampshire Avenue
Los Angeles, CA
Sold For: Confidential - 134 units


  • Sold for all cash offer with hard money upfront and a quick close

  • Making its market debut, the property was sold by the original developers for the first time since it was built more than 30 years ago

  • Property is not subject to rent control and offered the potential for ±28% in rental upside given rents that are currently below market

  • Through strategic renovations to the original unit interiors, common areas and resident services, the new owner has the ability to add significant value and capture top-of-market rents

  • Unique community amenities include an indoor pool and spa with solarium roof, a fitness center, multiple courtyards and two rooftop sundecks that are prime for upgrades

  • Upper units and rooftop decks enjoy unobstructed views of the Griffith Observatory, Hollywood Sign and Pacific Ocean

  • Surrounded by iconic LA destinations including the historic Hollyhock House at Barnsdall Art Park, Greek Theatre, Hollywood Sign and Griffith Observatory

  • Los Feliz home values rose 10.5% over the past year

  • Submarket asking rents are forecasted to experience the highest growth rate in Los Angeles over the next five years

 

 
 

Capri Villa Apartments

834 4th Street
Santa Monica, CA
Sold For: $17,500,000 - 32 units


  • Large hard money deposit released after 10-day due diligence with no loan contingency and quick close from an out-of-state buyer

  • Sold at a 3.16% cap rate for nearly $550,000 per unit

  • Well-maintained 32-unit apartment building on a 15,275-square-foot double lot with 55.4% upside potential

  • Opportunity for the buyer to add value and capture top-of-market rents with strategic renovations to units and common areas

  • Favorably positioned in coastal Santa Monica within a 10-minute walk to the beach and world-class shopping, dining and entertainment on Montana Avenue and the 3rd Street Promenade

  • Santa Monica asking rents grew by an average of 9.2% in 2017, the 3rd highest rate in the Los Angeles metro

 

 
 

24 TOPSAIL

24 Topsail Street
Marina Del Rey, CA
Sold For: $2,300,000


  • Rare opportunity for townhome development, value-add investment or owner/user occupancy on 3,383 SF of beachside land

  • Just steps from world-famous Venice Beach and Ballona Lagoon

  • Single-family ownership and first time of the market since 1965

  • Opportunity to build two townhome units with up to seven guest rooms and a maximum building height of 45 feet

  • Current use of the property is a well-maintained 3,428 SF residential triplex with value-add potential and 32% rental upside

 

 
 

870 MORAGA

862-870 Moraga Drive
Los Angeles, CA
Sold For: $4,119,375 - 14 Buildable Units


  • Multifamily development opportunity in sought-after Bel Air, where no new supply is scheduled

  • Proposed 14-unit luxury apartment building on a flat 11,316 SF lot with views of the Getty Center

  • Entitlements were completed with approved additional building height and plans filed for building permits

  • Project was grandfathered from AB 2222 housing density bonus

  • Plans were filed for plan check in 2016, avoiding new city fees

  • Bel Air is an ultra-premium location with top schools and an average household income of $233,725 within a 1-mile radius of the property

 

 
 

THE WEHO 28

1008-1020 N Ogden Drive & 1013 Genesee Avenue
West Hollywood, CA
Sold For: $7,300,000 - 28 Buildable Units


  • Sold for $280/SF and $1.825 million per lot, a market-high price for development land in West Hollywood

  • All four parcels were fully entitled and approved for condominium units to be offered for rent or sale

  • More than 40,000 SF of building planned on a 26,000+ SF lot

  • Well-thought-out plans were designed to create best-in-market luxury condominiums

  • Delivered with fully-vacant buildings and one shovel-ready lot

  • Plan approvals received "grandfathered" status, avoiding re-entitlement work to comply with new zoning laws

  • Property's pedestrian-friendly location in the heart of West Hollywood is designated as a "Walker's Paradise" with a Walk Score of 96/100

  • Average submarket rent grew 5.1% over the past year

  • Within a 3-mile radius, average household income is $102,813

 

 
 

3rd Street Apartments

1015 3rd Street
Santa Monica, CA
Sold For: $12,450,000 - 25 Units


  • Well-maintained garden-style apartment building that sits on a large 18,766 SF double lot

  • Favorably positioned in coastal Santa Monica, just a 5-minute walk to the beach and world-class shopping and dining on the Third Street Promenade and Montana Avenue

  • Unit mix of one (1) junior 1 bedroom/1 bath and twenty-four (24) 1 bedroom/1 bath apartments

  • Potential for 25% in rental upside

  • Several units have been renovated with hardwood floors, granite countertops, stainless steel kitchen appliances, abundant windows and newly-tiled bathrooms

  • Opportunity to add value through strategic second-level renovations to units and common areas

 

 

Nob Hill Towers

2430 Ocean View Avenue
Los Angeles, CA
Sold For: $12,600,000 - 52 Units


 
  • The property has impressive views of Downtown Los Angeles, Griffith Park, and the Hollywood Sign

  • Extraordinarily large units featuring high ceilings, formal dining and living rooms, hardwood floors, classic tile and ornate fireplaces

  • Potential 27% rental upside with well-below market rents averaging $1.79/SF

  • Value-add opportunity with the Buyer pledging to spend nearly $1 million on renovations

  • “Walker’s Paradise” score of 94 out of 100 on WalkScore.com.

  • There are over 580,500 jobs within a 5-mile radius of the property

  • Asking rent growth in 2015 was 4.6%

 

 
 
 
 

Santa Monica Development Land

2403-2409 Centinela Avenue
Santa Monica, CA

Sold For: $5,000,000


  • 32,750 SF of developable multifamily land

  • Up-zoned to SMR2 and SMR2-C2 allowing for a “by right” development

  • Potential to build an unlimited number of units with a 38-foot building height restriction

  • Excellent Santa Monica location off of Pico Boulevard with convenient access to Interstate 10

  • Walking distance to the new Metro-Expo line at Exposition and Bundy

  • 3 miles from the famous Third Street Promenade and Santa Monica Pier

  • The average household income within a 5-mile radius of the property is $114,925

 

 
 

Yamashiro Hollywood

1999 N Sycamore Avenue
Hollywood, CA
Sold For: $38,000,000


  • 7-acre estate situated on a private bluff atop Franklin Avenue in the Hollywood Hills

  • The estate comprises the Yamashiro Restaurant Building, the Hollywood Hills Hotel and Apartments and three ancillary structures totaling 60,295 net rentable SF

  • Existing structures were built between 1914 and 1955

  • Expansive 360-degree views spanning from Downtown Los Angeles to the Santa Monica coast

  • The site is a well-known, historic landmark that was been privately held by previous ownership for the last 66 years

  • One of the largest contiguous parcels in Hollywood, the estate has significant untapped development potential through under-utilized development rights, an abundance of vacant land and the redevelopment and enhancement of the site’s key existing structures

  • Hollywood is in the midst of an ongoing grand revitalization with more than $3 billion in public and private capital being invested in developments throughout the market

 

 
 

Pico Gateway Apartments

8525 W Pico Boulevard
Los Angeles, CA


  • 39 total units and 3 retail spaces situated on a 0.37 acre lot

  • 2010 mixed-use construction with no rent control

  • Luxurious high-end interior finishes with upscale amenities allowing opportunity for a condo conversion

  • Kosher friendly building featuring Quartz countertops, custom European cabinetry, GE stainless steel appliances and Fisher & Paykel dish drawers

  • Individually metering for gas, electric, and hot/cold water

  • Two blocks from Beverly Hills

  • Transit oriented site

  • Over 650,000 employees within a 5-mile radius

  • The average single family home sale within one mile is $1,152,194

 

 
 

615 Ocean Avenue

615 Ocean Avenue
Santa Monica, CA


 

  • Property was a court ordered sale

  • First-class Santa Monica location with unobstructed views of the Pacific Ocean

  • Walking distance to Palisades Park and the Santa Monica Beach only a few minutes away

  • Average rents in Santa Monica are 71% higher than the Los Angeles average

  • Average household income in Santa Monica is $92,936 (which is more than $20,000 over the national average)

  • Highly educated population – 65% of the population ages 25+ has a Bachelor’s Degree

  • The median home value in Santa Monica is $1,188,500

 

 
 

Stoney Brook Apartments

502 S Winery Avenue
4909 E Balch Avenue
Fresno, CA
Sold For: $19,950,000 - 390 Units


  • 384,568 SF

  • 390-unit multifamily complex on over 17 acres in Fresno

  • All large 2-bedroom apartments within a garden-style community

  • Non-rent control property with 95% occupancy and 25% rental upside

  • Excellent amenity package including three swimming pools with 606 parking spaces on site

  • Great location one mile from the 180 freeway and walking distance to the Kings Canyon Pavilions Shopping Center

  • Situated within a 5 mile radius of 150,000+ jobs in Fresno

  • Fresno market occupancyrate of 96.3%

 

 
 

Avalon Apartments

1248 W Adams Boulevard
Los Angeles, CA
Sold For: $6,950,000 - 15 Units


  • 24,771 SF

  • 72-bed 2002 construction non-rent controlled apartment building serving the student population at USC

  • Two- and three-bedroom apartments that have been well maintained

  • Excellent value-add opportunity through strategic upgrades

  • Fully leased for 2014-2015 academic year - 100% occupied for the last 10 years

  • Great location north of USC Campus and on south side of Adams Boulevard

  • Ten minute walk to the center of the USC Campus and just over a mile to the Expo/USC Metro Expo Line Station

  • Transit oriented site within 3 miles of nearly 325,000 jobs

 

 
 

Affordable Housing Portfolio

4 Properties
Los Angeles, CA
Sold For: $26,950,000 - 165 Units


  • 173,359 SF

  • 165 total units on more than 7 acres

  • All properties are 100% occupied

  • Affordable projects under project-based Section 8 HAP Contracts providing long-term stable income

  • Properties are in good condition with excellent upkeep

  • Adjacent to public transportation options and major freeways providing easy access throughout the City

 

 
 

1171 franklin

1171 Franklin Street
Santa Monica, CA
Sold For: $6,750,000 - 6 Units


  • 9,138 SF

  • 2015 construction vacant townhomes

  • Sold in bulk for rent or sale

  • Two and three bedroom layouts ranging from 1,423 to 1,618 SF

  • Each unit features walk-in closets, a jet bathtub in the master suite, stainless steel appliances, central HVAC, and access to a private roof deck

  • North of Wilshire Boulevard with "Very Walkable" WalkScore of 81 out of 100

  • Assigned elementary and middle schools are ranked 10 out of 10

 

 
 

Ashmont ApartmentS

908 S Hobart Boulevard
Los Angeles, CA
Sold For: $9,650,000 - 50 Units


  • 32,340 SF

  • First time on the market in over 62 years

  • Value-add opportunity with 59.5% rental upside

  • 50 well-maintained studios and one-bedroom units with breakfast nooks and walk-in closets

  • Spacious basement with laundry room and extra storage

  • Rare 9,029 SF open parking lot with separate APN consisting of 33 parking spaces with the potential to develop up to 22 units

  • Excellent Koreatown location, two blocks north of Olympic and 3 blocks east of Western