REBusinessOnline

SANTA MONICA APARTMENT COMPLEX TRADES FOR $26.5M

SANTA MONICA, CALIF. – A local private investor has purchased a 60-unit apartment complex in Santa Monica for $26.5 million. The complex is located at 3111 4th Street. It is referred to as 3 One Eleven Apartments.

The community is situated less than two miles from the new downtown Santa Monica Expo light rail station. The Abbot Kinney shopping and dining area is three blocks away, while the beach is just two blocks from 3 One Eleven Apartments. Facebook, Google and YouTube all have offices within the area, which is known as Silicon Beach.

The community was built in 1971. Upgraded units include stainless-steel appliances, new paint, quartz kitchen countertops, modern ceramic/glass-tiled kitchen backsplashes and bamboo-tiled ceramic bathroom walls.

The new rooftop sundeck features 180-degree views of Santa Monica and Los Angeles. Community amenities include a new fitness center and on-site laundry facilities with coin-operated machines on each floor. The property also features a large, Spanish-style tile courtyard and two sundecks with patio tables and lounge chairs.

The seller, a joint venture between MWest Holdings LLC and GreenOak Real Estate LP, was represented by Greg Harris, Kevin Green and Joseph Grabiec of Institutional Property Advisors.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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