Beach City Capital has acquired 12757-12767 Mitchell Avenue, which contains 25 units across three existing multifamily buildings.
With current rents substantially below market, and a prime location near Venice Beach and Marina Del Rey surrounded by numerous office and retail opportunities on Washington Boulevard, the properties are excellent candidates for development. The average home sales price in Mar Vista has increased 83% from 2012 to 2016.
Beach City Capital has formed a JV Partnership with the land owner and will build 27 for sale condominum units. There will be at-grade secured parking, amenity space and 28 units.
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Entitlements & Construction
The Project will take about 8 months for Entitlements and 6 months for Building Permits. More information coming soon.