2400 Palos Verdes Drive West DR W Palos Verdes Estates, CA 90274

The Lunada Bay Apartments, a beautiful coastal 24-unit apartment complex located in Palos Verdes Estates, CA. Built in 1961 by the current ownership, the property offers a mix of large 1, 2, and 3 bedroom units all individually metered for gas and electric. Most of the units have been updated with granite countertops, cabinets, new paint and carpet, and all of them have gas log fireplaces. In addition, several units have Ocean Views along with patios and/or balconies. The property contains 24 garage parking spaces with automatic garage doors, onsite laundry, and pool. The Lunada Bay Apartments offers the opportunity to purchase an income producing asset with over a 20% upside in rents and over a 4% cap rate on market rents