Marina Pointe is just off Lincoln Boulevard at 13603 Marina Pointe Drive, one block from the marina and across the street from the Villa Marina Shopping Center. It is also adjacent to the Regatta, where condominiums sell for up to $2 million.

Marina Pointe consists of four four-story buildings atop a two-level underground parking garage. Apartments average 854 square feet with an average rent of $1,671 per month. Moran says SSR is planning to update the complex, which includes a fitness center, a lounge, a recreation room and heated swimming pool with sauna and spa.

Although the property commanded the highest overall price ever paid for an L.A. County apartment complex, other properties have sold for more on a per-unit basis. In May of 2001, a partnership of SSR and the California Public Employees' Retirement System paid $270,000 per unit, or $48 million, for the 178-unit Sea Castle apartment building on the beach in Santa Monica, Calif.