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Multifamily

Harbor Terrace

Los Angeles, CA

93 Units

Built in 1987

Value Add

Investment Highlights

  • TRANSFORMATIVE DEVELOPMENTS REVITALIZING LA WATERFRONT: Multiple marquee development & community enhancement projects are in development across more than 400 acres of the LA Waterfront.
  • COMPELLING INVESTMENT OPPORTUNITY: Opportunity to capture $429/unit (26%) in renovation upside via renovating the 23 classic units and $183 per unit (9%) in loss to lease on existing renovated units.
  • ROBUT EMPLOYMENT: A diverse array of employers are based in the Harbor Cities region of LA given its proximity to the busiest ports in America and strong labor force.
  • SAN PEDRO HOUSING POSITIONED FOR THE LONG-RUN: Median single family home values in San Pedro have increased 63% over the last 5 years to more than $1M. The sharp increase has made ownership difficult, if not impossible for first time buyers who would need to earn roughly $244,000 annually to afford a median priced home in the area.

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