2/25/2008

Bascom lists beachfront apartment complex

by

The Waterfront

Irvine, Calif.-based The Bascom Group, LLC has listed The Waterfront, a 161-unit multi-family complex in Redondo Beach. Marcus & Millichap's Ron Harris and Gregory Harris will market and sell the property.

The Waterfront contains 125,050 square feet and is situated on 3.65 acres in Redondo Beach at 211 Yacht Club Way with 72 percent of the units featuring ocean views. The property has recently undergone $4.5 million worth of renovations. It is the only institutional apartment complex in Los Angeles County built entirely on sand, according to Ron Harris.

The property also includes a 10,000 square foot restaurant operated by the The Chart House, a national beach-centric seafood chain.

Last month, Bascom purchased a five-property portfolio in Texas for $20 million and the Lake Pines Apartments in Salt Lake City.

Address: 211 Yacht Club Way, Redondo Beach, Calif.

Size: 161 units

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Filed Under: Multi-Family

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