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20747 Pacific Coast Highway, Malibu, California 90265

(Sold At) $11,250,000

Property Details

Units13
Year1963 Bldg Size9,585 sq. ft
GRM Current 16.28 Cap Rate Current 4.01 Cap Rate Market 4.68 Price Per Foot 1173.71 Price Per Door 865385

Unit Mix

TOTAL UNITS UNIT TYPE

Property Description

Turnkey Luxury Apartment Community Perched on Santa Monica Mountains Overlooking Pacific Ocean
Opportunity to Increase Rental Income by 20 Percent Simply by Raising Rents to Market Levels
Opportunity to Pursue a Variety of Business Plans Including Short-Term Stay Options, Rent Premiums for Fully Furnished Units, or Seasonal Rentals
Malibu Is Not Subject to Rent Control
Offered Free and Clear of Debt Enabling Investors to Take Advantage of Historically Low Interest Rates and Attractive Financing Options
Separately Metered for Gas and Electric
26 Parking Spaces Should Allow for Condo Conversion (Buyer to Verify with City)

Location

20747 Pacific Coast Highway, Malibu, California 90265