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
- ◦Sale/Acquisition