On the Market: 5 Interesting Listings for the Week of 9/11
The most recent listings include a Seattle-area property on nearly 80 acres of land and a fully renovated 1920s asset in Los Angeles' Koreatown.
On the Market is a weekly department curating the most interesting recent for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Associate Editor Mallory Bulman.
Location: Helotes, Texas
Rentable SF: 189,072
Avg. Unit Size: 844 SF
Year Built: 2000
Features: Current ownership upgraded property with a remodeled clubhouse, new pool cabanas and furniture, a new fitness center, dog park, roofs and exterior paint; 204 units were improved with granite countertops, stainless steel appliances, new cabinet doors and pulls, new interior paint, two-inch blinds, upgraded lighting and plumbing fixtures and vinyl plank floor on first-floor units; located in Northwest San Antonio with easy access to Shops at La Cantera, The Rim and UTSA via Loop 1604.
Contact: Patton Jones, ARA Newmark, 515-637-1213
Location: Shoreline, Wash.
Year Built: 1989
Net Rentable SF: 407,253
Acreage: approx. 80
Features: Located approximately 15 miles from downtown Seattle on approximately 80 acres of land; consists of 185 one-bedroom, 252 two-bedroom and 48 three-bedroom units; near employers including Boeing, Joint Base Lewis-McChord, Navy Region Northwest, Microsoft, Amazon.com, the University of Washington, Providence Health & Services and more; value-add opportunity.
Contact: Kenny Dudunakis, Berkadia, 206-521-7216
Brookfield Terrace Apartments
Location: Phoenix, Ariz.
Pricing: Market Pricing; all cash/new loan
Features: Value-add opportunity with additional interior and exterior renovations; all one-bedroom/one-bathroom units; community courtyard/pool area; located across from the Phoenix Light Rail and near Christown Mall
Contact: Alon Shnitzer, ABI Multifamily, 602=714-1283
California Avenue Bungalows
Location: Reno, Nev.
Price: $1.8 million
Building Size: 4,367 SF
Features: Property consists of seven bungalows built in the late 1920s; unique architecture set on a landscaped hill; features classic plaster walls, art deco light fixtures, original glass and wood; located 1 1/2 miles walking or biking along the river to Downtown Reno; walking distance from shopping, restaurants, parks, the Truckee River and the bus line.
Contact: Randy Walker, Dickson Commercial Group, 775-813-0059
The Avalon Apartments
Location: Los Angeles, Calif.
Price: $9.5 million
Building Size: 22,904 SF
Features: Fully renovated vintage property built in the 1926; located in heart of Koreatown; previous ownership invested approximately $660,000 of capital improvements to the property’s systems, common areas and interiors; interior finishes have been upgraded to include stainless steel appliances, quartz countertops and new cabinetry; vintage attributes like exposed brick walls and hardwood floors have been preserved; common area upgrades include remodeled hallways and stairs, improved lobby, security cameras, landscaping design, a remodeled laundry room; improvements to the backyard patio and various systems enhancements.
Contact: Ronald Harris, Marcus & Millichap, 213-943-1900
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