Tom Jonsson, Jonathan Nikfarjam, Will James and Bill Ukropina Broker the Properties
Los Angeles, CA (July 20, 2017) — Coldwell Banker Commercial Advisors’ El Segundo office today listed almost $30 million worth of multifamily complexes located at 121 N Hamilton Drive in Beverly Hills, 1968 North Lake Avenue in Altadena and 1436 12th Street in Manhattan Beach.
Tom Jonsson and Will James listed Hamilton Towers in Beverly Hills, an 18-unit apartment building, for a list price of $13.75 million. This newly renovated building sits within walking distance of Beverly Hills and Los Angeles’ premier dining and shopping attractions, including Restaurant Row, The Beverly Center and the future Wilshire La Cienega Metro Station. The property consists of 22,248 net rentable square feet of space.
“This fully renovated complex allows an investor to own a turnkey piece of real estate in one of the worlds’ premier ‘A’ locations,” said James. “With the future metro station coming in and the draw of both Beverly Hills and West Hollywood just blocks away, the property’s location is ideally situated for tenants from both a work and play standpoint.”
The property consists of one- and two-bedroom units, all recently renovated with wood floors, stainless steel appliances, granite countertops, custom two-tone paint, central air and large open floor plans.
Millard Place Condominiums in Altadena is an 18-unit, mixed-use complex with 23,035 net rentable square feet of space. Three CBC Advisors’ professionals — Tom Jonsson, Jonathan Nikfarjam and Bill Ukropina — represent the owner in the $10 million listing. Ukropina, managing principal of the Glendale office, referred the client to Jonsson, managing principal of multifamily investment sales, and Nikfarjam, managing principal of multifamily investment sales, both from the El Segundo office.
“These luxurious, newly constructed condominiums are currently leased up but provide an investor with the opportunity to sell individual condominiums at a later date to maximize profits,” said Jonsson. “This allows an investor the flexibility to sell units individually based on specific investment criteria and market timing.”
The property consists of ground floor commercial units that sit below two floors of fully leased residential units. The property is surrounded by million dollar homes and sits just a few blocks from the Montecedro Senior Living Project as well as JPL and the Estate Area of Altadena.
Jonathan Nikfarjam and Luca Jacoli also listed a 7-unit apartment complex in Manhattan Beach. This 7,382-square-foot, 7-unit apartment building is located in a premiere real estate market with oceanfront desirability in a top-performing school district. The property is just twelve miles south of Los Angeles, three miles south of LAX and within walking distance of downtown boutique retail, entertainment and restaurants on Highland Avenue and Manhattan Beach Boulevard. Situated on a lot totaling 10,503 square feet, the facility features a mix of spacious two-bedroom, two-bathroom and two-story townhouse-style apartments.
“Manhattan Beach is one of the most sought-after locations in all of California,” said Nikfarjam. “There are a lot of different options with this property: since this is a non-rent controlled market, it would be significantly easier for a value-add investor to go in and quickly increase rents or vacate the entire property to perform a high-end remodel. Beach city real estate units and lots are often relatively smaller, but these units are large and the lot provides redevelopment potential for a builder.”
Jonsson, James, Jacoli and Nikfarjam specialize in multifamily investment sales throughout Southern California with an emphasis in Los Angeles County. Recently, the El Segundo multifamily team was ranked among the most active South Bay multifamily agent teams and was recognized in 2017 by the Los Angeles Business Journal as Los Angeles’ “Top Multifamily Brokerage Team.”