12756 Venice Blvd

27 Units. "La Fortunado." Same Owners, Second Deal.

The owners of La Fortunado are the same partnership behind 605 San Vicente. After we closed that 30-unit deal, the relationship was strong enough that they came back to us for this one. That's how it's supposed to work. You do right by people and they call you again. Twenty-seven units in Mar Vista, a building with real name recognition in the neighborhood, under $231K per door. Mar Vista rents are still 15 to 20 percent below West LA and Culver City, so the upside story wrote itself. The buyer moved fast.

Transaction Highlights

• Same ownership group as 605 San Vicente. They came back to us.
• 27 units in Mar Vista. You almost never see this scale here.
• $230K per door. 15-20% below adjacent neighborhoods.
• "La Fortunado" has real name recognition. Tenants stay.