Nudson Villas | 16-Unit Beach Apartment Bldgs

8517-8527 Pershing Dr, Playa Del Rey, CA 90293

Property Info

Zetabid and Corte & Wright Commercial are pleased to present Nudson Villas for sealed bid auction. This 16-unit low rise apartment building is a unique opportunity to own three sister apartment buildings only 3 blocks from the beach in Playa del Rey. Nestled on the back of Playa Del Rey's first residential hill with ocean view homes, this is a prime value-add investment property with most rents 20% below market and is ideal for future residential condo over retail development of 34 to 40 units with up to 15,000 SF of retail space. Twenty-five percent of the units have been left vacant to accommodate a faster conversion. Community laundry room and 6 attached 2 car garages on site as well. Please visit Zetabid.com for auction information and due diligence information such as current rent roll, financials and other important documents. Pre-auction offers will be considered!

*Calculated at the opening bid

  • City : Playa Del Rey
  • State : CA
  • Zip Code : 90293
  • Property Type : Multi-family
  • Square Feet : 13440
  • Lot Size : 0.34 AC
  • Year Built : 1953
  • Sale Type : Investment | Redevelopment
  • Occupancy : 75%
  • Price/Unit* : $406,250
  • Stories | Buildings : 2 | 3
  • Unit Mix: : (10) 1 Bed 1 Bath | (6) 2 Bed 1 Bath
  • Parking | 2 Car Garage : 0.74/1,000 SF | 6 (Two per Building)
  • Amenties : Common Laundry | Oven | Refrigerator
  • Zoning : LAC2-1VL
  • Property ID : 4116-024-027, 028, 029
Status:Active

Additional Information

Subject to relocation restrictions by LAHD Rent Control, Coastal Commission Influence and Coastal Transportation Corridor Specific Plan.

Starting Bid: $6,500,000
    Auction Start: 08/10/2020 9:00 am
    Auction End: 08/13/2020 4:00 pm
    • Time Zone :PST
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    Important Information

    • Buyers Premium :2%
    • Broker Coop :2%
    • Financing :No
    • Inspection Contingency :Yes
    • Showings :Call Eric Koesterer @ 818.426.2660

    Auction Contact

    Broker Contact

    • Name :Thomas Corte & Dana Wright
    • Firm :Corte & Wright Commercial | ERA Matilla Realty
    • Phone :(310) 713-0552
    • tomcorte@hotmail.com
    • LIC Number :01323411 | 01439943