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Apartment Sale Sets Record at $117M

MARINA DEL REY, CA-For the highest price ever paid for an apartment community in Los Angeles County, SSR Realty Advisors and one of its clients pick up a 583-unit complex in Marina Del Rey. Apartments here average 854 square feet with an average rent of $1,671 per month.

By Bob Howard | Updated on July 28, 2002

MARINA DEL REY, CA-SSR Western Multifamily LLC, a joint venture between SSR Realty and one of its clients, bought the 583-unit Marina Pointe, a 583-unit apartment complex in Marina del Rey, from a private investor for $117 million. The price was the highest ever paid for an apartment complex in Los Angeles County, according to Moran & Co., which brokered the sale.

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.

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