- Excellent demographics in the Playa del Rey-Marina del Rey-Venice submarket, more commonly known as Silicon Beach
- Pent-up demand due to lack of buildable land, restrictive zoning for new residential construction
- Pride of ownership
- Potential rental upside ±32.86%
- Vacancy rate below 2.4% in this coastal community
- Excellent unit mix of 1- and 2-bedroom units with garage and open space parking
- Extra storage space: Potential to lease for additional income
- Unobstructed view of the Ballona Wetlands and Marina del Rey
- Coastal submarket, with highest effective rents in the county, continues to show rent growth (currently 4%)
- Well-maintained property
- Steps away from Dockweiler State Beach, Playa del Rey Lagoon and Marina del Rey, the property offers easy access to the Pacific Coast (1) Hwy, the Marina (90) Fwy, the San Diego (405) Fwy
- R3 zoning allows for investor to hold for future redevelopment
Lee & Associates and Lineage Asset Advisors are pleased to present this rare opportunity to acquire the fee simple interest in 6603 Vista del Mar, Playa del Rey, CA 90293. This well-maintained, two-story, 6-unit apartment complex is a perfect investment or owner-user property located in the unparalleled market of Silicon Beach. The property is situated just steps away from the Pacific Ocean and numerous boutique shops, restaurants, parks, and amenities in the quaint beach town of Playa del Rey. This beautiful beach property enjoys unobstructed views of the Ballona Wetlands and Marina del Rey, and is also located one mile from the world class community of Playa Vista, which includes retail amenities such as Whole Foods and Cinemark Playa Vista. The building is also located one block from Del Rey Lagoon, Krauch Field and The Strand (a bike path running north-south to the Santa Monica Pier or Redondo Beach.). This quiet beach property caters to both the techy worker and the international traveler who seeks a balanced live-work-play lifestyle.
Common area amenities include private and communal patios and balconies that provide unobstructed views of the Ballona Wetlands, upgraded units with French doors, a gardening area, common area laundry room, two 2-car garages with tandem open space parking, enclosed front porch area, and separate utility meters.
Spanning parts of Santa Monica, Venice, Marina del Rey and Playa Vista, "Silicon Beach" has shaped the geographic boundaries of the Westside. It is home to giants Google, Facebook, and Snapchat. It's also where hundreds of startup ventures have taken root. Other notable companies located in Silicon Beach include: Microsoft, YouTube, Electronic Arts, Sony, Fox Sports, Belkin, TBWA\Chiat\Day and Deutsch. Additionally, there are numerous prominent tech, branding and media companies that are shopping for large amounts of office space in Playa Vista. Most notably Amazon, Riot Games, Red Bull and The Rubicon Project are all very close to signing, or have already signed, long-term leases in the area.