11900 Courtleigh Dr - Apartments FOR SALE


Los Angeles, CA 90066- Del Rey
$17,300,000 USD
310-872-8004
11900 Courtleigh Dr, Los Angeles, CA for Sale
$17,300,000 USD
Apartments - FOR SALE
1/53
null | 5.25% Cap Rate

11900 Courtleigh Dr
Los Angeles, CA 90066
Del Rey


HIGHLIGHTS

  • Excellent Performance: 100% Current Occupancy with Zero Bad Debt and No Concessions
  • Condo Mapped Asset: Provides Optionality to Execute a Condo Selloff for a Premium, or Continue Operating as Conventional Multi-Housing
  • Shared Rooftop with 360-Degree Views of West LA and the Coastline from Palos Verdes to Malibu
  • Expansive Floor Plans Differentiate Azure: Units Average ±1,250 SF which is 20% Larger than Del Rey Averages
  • Durable Rent Growth: Limited Supply Combined with Strong Occupancy Positions the Submarket for Outsized Rent Growth

OVERVIEW

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for sale Azure the Residences (the “Property”), a non rent controlled 28-unit multi-housing investment opportunity located in the coveted Del Rey neighborhood of Los Angeles. Azure the Residences offers spacious floor plans across a diverse unit mix, including one-, two-, and three-bedroom residences, with expansive units averaging ±1,249 square feet. The Property offers a shared community rooftop with panoramic 360-degree views, providing residents with a highly sought-after amenity that takes full advantage of the coastal location. Built in 2013, the Property delivers a luxury lifestyle in a quiet pocket between Playa Vista, Mar Vista, and Culver City –offering direct access to the best that the Westside has to offer. Notably, the Property is condo mapped and pending DRE approval, providing an incoming investor with meaningful optionality to execute an individual unit sell-off and capture the significant premium that for-sale pricing commands in this submarket. Azure the Residences represents a rare opportunity to acquire a stabilized, boutique asset in one of Los Angeles’ most supply-constrained submarkets. Proximate to the Silicon Beach employment corridor, the Property benefits from consistent demand from high-income renters, resilient occupancy, and minimal new supply – offering an incoming investor a durable, low-risk income stream in a premier coastal-adjacent location.

FOR SALE DETAILS

PRICE

$17,300,000 USD

PRICE/SF

$299 USD /SF

# OF UNITS

28

PRICE/UNIT

$617,857

CAP RATE

5.25%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Azure The Residences

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2013

PARKING SPACES

53

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,875 SF

ZONING

LAR3-1

APN/PARCEL ID

4233-019-032

ASK ABOUT THIS PROPERTY

310-872-8004

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310-872-8004

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