Jonathan Nikfarjam and Luca Jacoli Listed the Properties
Los Angeles, CA (August 2, 2017) — Coldwell Banker Commercial Advisors (CBC Advisors) today announced that Jonathan Nikfarjam, managing principal, and Luca Jacoli, senior associate of CBC Advisor’s El Segundo office, listed two multifamily apartment complexes in El Segundo and Redondo Beach for a sale value near $7 million.
1208 East Imperial Avenue in El Segundo is a 6-unit, 4,459-square foot apartment complex listed for $2.35 million. The property is within close proximity to LAX as well as the 105 and 405 Freeways. Situated on a lot totaling 8,007 square feet and located just two miles from the Pacific Ocean, the property consists of two two-bedroom and one-bathroom units as well as four one-bedroom and one-bathroom units.
“The 1208 East Imperial Avenue apartment complex provides long-term investors with an opportunity to own a Class A asset on a valuable piece of land in a prime El Segundo location,” said Nikfarjam. “A buyer may consider increasing yields through enhancing the current building to obtain as much as 31% in rental upside. 1208 East Imperial Avenue provides an investor with the opportunity to purchase a highly attractive property, with strong income, in an absolutely irreplaceable location.”
508 Esplanade in Redondo Beach is a 6-unit, 4,780-square foot apartment complex listed for $4.6 million. Situated on a lot totaling 6,410-square feet, the property consists of one two-bedroom and one-and-three-quarter-bathroom owner’s unit, one three-bedroom and two-bathroom unit as well as four one-bedroom and one-bathroom units.
“The 508 Esplanade apartment building is situated half a block from the Pacific Ocean, which provides long-term investors with an opportunity to obtain yield growth through property enhancements on prime land in Redondo Beach,” said Jacoli. “Redondo Beach has seen a recent revitalization of local landmarks and continued growth in its multifamily market. A buyer may consider enhancing the current building to sell the property at a later date.”
Nikfarjam and Jacoli 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.”