The Property is in an ideal location within a 3 minute walk to W Grand Ave/Main Street and its surrounding mix of popular restaurants, bars, and specialty retail stores. See next page for more detail.
The Property is also located within a 3 minute distance to El Segundo Beach, a less-crowded alternative to other Southern California beaches. Other beaches nearby include its neighbors Manhattan Beach to the South and Playa Del Rey to the North.
No other location in El Segundo, is closer to the beach and Main-Street as the southwestern quadrant. Yet, the rents and values are the same for less desirable locations along Imperial Highway (near the airport) or Pacific Coast Highway. This provides a tremendous opportunity to deliver a quality product that will drive a premium in rents.
The Project will benefit from El Segundo’s booming tech industry, high income workforce, gorgeous beaches, vibrant retail, proximity to growing industries and top-tier school system.
The project will also benefit from its proximity to Silicon Beach, home to major technology companies such as Google, Yahoo!, YouTube and Facebook. Just as Silicon Valley activity has influenced the entire marketplace in and around San Francisco for the past few decades, Silicon Beach is now having the same effect on the Westside of L.A., resulting in steep price increases in several communities, plus additional development meant to support the influx of wealthy workers.
The seller has owned the Property for 50+ year with rents falling significantly below market. The renovation will transform the Property into a contemporary apartment building with modern features that include new landscaping, updated glazing and doors, as well as a new interior design. The goal is to maximize the return with minimal capital investment.
Beach City Capital (the “Sponsor”) is pleased to present an opportunity to invest in the repositioning of a multifamily property at 411 W Franklin Ave., El Segundo, CA (the “Property”). This 5,504 square foot multi-family building sits on a 6,435 square foot lot and includes 8 units, comprising of (6) 1-bedroom units / 1 bath, (1) 2 bedroom / 1 bath unit and (1) 2 bedroom / 2 bath unit.
The Sponsor is seeking an equity partner to capitalize the renovation over a 5-10 year hold.