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NAI Capital Negotiates 16-Unit Multifamily Investment Sale in Mar Vista, CA

12/03/2019

Los Angeles, CA – Monday, December 3, 2019 – Vice President Kevin Kawaoka, CCIM with NAI Capital’s Multifamily Services Group completed the sale of a 16-unit apartment complex located in Mar Vista, California. Kevin represented both the seller, a family trust, and buyer, a private investor, in the transaction. The sale price was $4,989,000 or $311,813 per unit.

The Mar Vista Apartments are located at 11715-11725 Palms Blvd. Built in 1955, the two-story apartment complex is comprised of 2 buildings with twelve 1-bedroom/one-bathroom units and four 2-bedroom/one-bathroom units. The property is in the white-hot Silicon Beach residential market. Mar Vista is a neighborhood within the city of Los Angeles and has become one of the most desirable places to live, work, and play on LA's Westside.

Kevin said, “Silicon Beach neighborhoods have among the lowest inventory and highest pricing over the past year.”  Kevin added, “Investors remain bullish on the multifamily market. My clients are extremely pleased with this transaction.”

About NAI Capital

NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 375 offices and 6,700 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.

NAI Capital Brokerage CA BRE #00806840.

To learn more, visit www.naicapital.com 

About NAI Global

NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.

NAI Global was acquired in 2012 by C-III Capital Partners, a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, online capital markets, title services and multifamily property management. C-III’s principal place of business is located in Irving, TX, with additional offices in New York, NY, Greenville, SC and Nashville, TN.  

To learn more, visit www.naiglobal.com.         

 

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Source

NAI Capital

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