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Multifamily

Pico Lanai Apartments

Santa Monica, CA

174 Units

Built in 1960

Value Add

Investment Highlights

  • COMPELLING VALUE-ADD OPPORTUNITY With a total of 174 units built in 1960, Pico Lanai provides a compelling opportunity for an investor to acquire an asset with significant value-add potential, within one of the preeminent markets in Southern California.
  • RARE OFFERING A rare opportunity to acquire a property built on the second largest existing multifamily land parcel (2.8 Acres) in Santa Monica and is one of only 15 assets great than 100 units in the submarket, which has seen only one other 100+ unit multifamily property sell in the last five years.
  • THE FUTURE OF PICO LANAI Pico Lanai can be repositioned to cater to high income earning, tech savvy Millennials that will gravitate towards a unique living experience, where residents can live, work, and play.
  • HIGH TURNOVER PROVIDES IDEAL RENOVATION OPPORTUNITY Pico Lanai has averaged 60% annual turnover over the last 3 years delivering an exceptional opportunity to quickly execute a comprehensive renovation and capture the embedded upside.

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