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321 Tremont Street, Avalon, CA 90704
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321 Tremont Street
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  • MLS#: 25545553 ( )
  • Street Address: 321 Tremont Street
  • Viewed: 9
  • Price: $10,750,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1983
  • Bldg sqft: 0
  • Days On Market: 163
  • Additional Information
  • County: LOS ANGELES
  • City: Avalon
  • Zipcode: 90704
  • Provided by: Tony Azzi
  • Contact: Tony Tony
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    321 Tremont Street spans approximately 58,700 square feet across five two story buildings and sits on a 61,768 SF leasehold lot. Built in 1983, the property features a highly desirable unit mix of (10) 1 Bed/1 Bath, (37) 2 Bed/2 Bath, and (15) 3 Bed/2 Bath units. Community amenities include on site laundry, a children's playground, and shared open air gathering areas. The property is 100% occupied with a tenant waitlist exceeding 30 years and receives full rent collections through a HUD HAP contract offering investors guaranteed income, minimal management, and strong retention. With annual rent escalations and five year market rent resets, the asset offers long term upside with stable in place cash flow. Positioned in one of Southern California's most supply constrained and sought after rental markets, 321 Tremont presents a rare opportunity to acquire an institutional quality multifamily asset with reliable returns in a uniquely irreplaceable coastal location.
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Features
Building Area Total
  1. 58700.00
Country
  1. US
Levels
  1. Two
Netoperatingincome
  1. 689528.00
Parcel Number
  1. 7480002071
Postalcodeplus4
  1. 2805
Sourcesystemkey
  1. 25545553:CLAW
Totalexpenses
  1. 1016912.00
Vacancyallowance
  1. 17196
Year Built
  1. 1983
Zoning
  1. AVU