WESTMAC Commercial Brokerage Company has arranged the sale of 2823 2nd Street, a 12-unit apartment complex in Santa Monica, for $4,000,000.
2823 2nd Street is situated on ± 13,063 square feet of land at the northeast corner of Ashland Avenue and 2nd Street in the Ocean Park neighborhood of Santa Monica. The 12-unit apartment complex features approximately 7,407 square feet of improvements comprised of eleven 1-bed, 1-bath units, and one studio apartment.
This was an estate sale. The buyer, Vectra Management Group, purchased the property as part of a 1031-exchange.
“Vectra has an excellent track record and showed interest right away,” said T.C. Macker, CCIM. “It’s a great addition to their growing portfolio.”
T.C. Macker, CCIM and Jennifer Moscoso of WESTMAC Commercial Brokerage Company arranged the transaction.
About WESTMAC Commercial Brokerage Company
WESTMAC Commercial Brokerage Company is a Los Angeles based commercial real estate brokerage firm founded in 1988 by one of L.A.’s most recognized commercial real estate brokers Timothy C. Macker. Our firm is a full-service real estate company that provides exemplary consultation, advisory and marketing services to property owners, users, developers and investors. From 2001 until 2018, the company was affiliated and a franchisee of Coldwell Banker Commercial before returning to its roots, as WESTMAC Commercial Brokerage Company.
Our 30+ professionals specialize in four distinct market niches: office, industrial, retail and multi-family properties. Among the primary services the firm provides are exclusive marketing of both for-sale and for-lease properties, representation of tenants seeking to lease commercial space, and consultation to real estate investors, developers and owners on the disposition or acquisition of commercial property.
Our standard is “The client’s best interest must be the guiding force behind all services.”