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California  + Los Angeles  + Apartments  | 

Key SoCal Multifamily Prime for Investment, Upgrades

With an eye toward renovations, investor and operator Waterton recently acquired 310 units of The Vue, a 16-story fractured-condo rental community located at 255 W. 5th St. in San Pedro. The purchase price was undisclosed.

Originally built in 2008 as a condominium, the property features 318 apartment homes with one-, two- and three-bedroom floor plans. The floor plans average 1,035 square feet, and have nine-foot ceilings and floor-to-ceiling windows.

Waterton plans to upgrade the lobby and common areas. The renovation scope further includes cosmetic improvements to the existing amenities including the pool deck, fitness center, rooftop lounge, business center and interior upgrades.

Los Angeles, Anaheim, Santa Ana and Irvine employment centers as well as retail and entertainment hubs across Los Angeles and Orange counties are accessible from I-710 and I-110, and by extension I-405. Downtown Los Angeles is approximately 24 miles away from the site, with other popular destinations such as Long Beach and Rancho Palos Verdes less than 10 miles from the property.

For comments, questions or concerns, please contact Lisa Brown

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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