The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
February 24, 2021
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





MULTIFAMILY NEWS
Printer-friendly Version   Email an Associate
Venice Apartment Property Trades for $325k/Unit

2/18/21

An eight-unit apartment complex in Venice sold for $2.6 mil, or $325k/unit. The buyer was AIMCAP Corp.

The property, located at 724 and 728 Machado Dr, consists of twin sister buildings with a mix of both one- and two-bedroom units. Built in 1947, the buildings sit on a 3.9k sf lot zoned C-2 with surface parking spaces in the rear. The property is in a great Silicon Beach neighborhood location next door to a Whole Foods and within walking distance to restaurants, bars, parks, retail shops, and Venice Beach.

The apartments have a Walk Score of 86, Bike Score of 94 and Transit Score of 53. The property also has excellent proximity to public transportation and freeway access. The apartments are located just off Lincoln Blvd, which is part of California State Route 1 (Pacific Coast Highway), making it a major route to go along the Pacific Coast in Los Angeles.

Kevin Kawaoka, CCIM, with NAI Capital Commercial’s Multifamily Services Group represented the seller, a family trust, in the transaction.

This was an opportunity to invest in a prime Silicon Beach market area with tons of rental upside,” commented Kawaoka. “During this pandemic we are seeing a flight to quality and well located assets will remain resilient under challenging circumstances - as evidenced by all tenants in this property paying the landlord their rent through COVID-19.”




Return to the previous page


 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2021 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media