Description

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for sale 11841 Avon Way (the "Property"). Offered for sale for the first time in over 60 years, offering a blank slate with considerable unrealized value waiting to be captured. Avon Way is a 12-unit (11 legal units, 1 non-conforming) multi-housing opportunity located in the coveted Del Rey neighborhood of Los Angeles, offering a diverse unit mix of studio and one-bedroom residences averaging ±487 square feet. The Property features a shared gated community courtyard with convenient access to major Del Rey thoroughfares, positioned in a high-demand coastal submarket with strong rental fundamentals and limited new supply.

Originally built in 1959, the Property delivers a coastal lifestyle in a quiet, residential pocket between Playa Vista, Mar Vista, and Culver City – offering direct access to the best that West LA has to offer. The building's classic mid-century architecture provides a solid foundation for value-add repositioning, while its prime location ensures proven tenant demand. Notably, the Property includes 11 legal units and 1 non-conforming unit that can be legally converted to an ADU, presenting an immediate opportunity to increase NOI through strategic business plan execution.

11841 Avon Way presents a compelling opportunity to acquire a well-located multi-housing asset in one of Los Angeles' most desirable coastal submarkets. Adjacent to the thriving Silicon Beach employment hub, the Property attracts steady demand from affluent professionals, benefiting from strong occupancy fundamentals and constrained development pipeline providing investors with a stable, defensible income stream in a highly desirable West LA location.

...