Listing: CSM, Wilson St., 530, 60U, Ala Moana Apartments (GT)

Description

The Ala Moana Apartments have been owned by the same family for over 50 years. The property presents an opportunity to own one of the few apartment complexes of this size with frontage adjacent to one of the most traveled boulevards in the coastal City of Costa Mesa. An astute investor will recognize that Ala Moana, and its strong 2-bedroom unit mix and amenity package, creates a genuine “value-add” opportunity. A repositioning of the property would consist of exterior improvements and upgrades along with updating the motif and landscape. Those changes along with upgrading interiors with contemporary styling creates the opportunity to increase rental income over 30%. Costa Mesa and its coastal neighbors Newport Beach and Huntington Beach are some of the strongest rental markets in Orange County. They have seen overall rental growth well over 50% in the past 7 years with no indication of a slowdown.