Purchase Price $18,500,000

32 Unit Apartment Complex

Michael Mortimer oversaw the acquisition of this property during his time as Director of Acquisitions for a local investment company. He completed extensive financial analysis and due diligence review to ensure the viability of the business plan. He leveraged broker relationships to be awarded the winning buyer and oversaw the difficult negotiation. The property now includes newly renovated units with stunning ocean views. It sits just steps from the sand and 3rd Street Promenade. The property includes both one and two bedroom apartments with fantastic upgrades including quartz counters, subway tile backsplash, full stainless appliance package, plank style flooring, and recessed lighting. The property has controlled access entry with intercom, subterranean gated garage parking with elevator access, and a brand new fitness center.