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11 Units - Retro Row Alamitos Beach

LMDG's Fund II has entered into a contract to acquire another property.  It is located in prime Alamitos Beach within walking distance of Retro Row, Bixby Park, and the beach and is an 11 unit value-add apartment building.  This project is also located within walking distance of our existing project at 315 Cherry creating tremendous synergies for renovation and management of the two properties.

LMDG will improve all of the apartments and increase rents by 70% - 90% over the next 12 months as tenants vacate the property and units are remodeled.  We anticipate a 40-50% increase in the value of the asset upon stabilization.

Fund II is still open for investment.  For more information, download our flyer which outlines the strategy of the fund, track record, fund structure, and projected returns.

Download Flyer

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Name: Retro Row / Alamitos Beach
Sq. ft. Size: 6,093
Units: 11
Location: West Hollywood
Stabilized Cap Rate: 8%+


Retro Row

Retro Row is a small business district along 4th street from Walnut Avenue to Temple Avenue in the city of Long Beach.
Located east of Downtown, this section of street is the place for Long Beach visitors who enjoy vintage and kitschy shopping.
4th Street is a unique showcase of Long Beach culture.  Portfolio Coffeehouse has served as the streets de facto anchor since it opened in 1990.
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Bixby Park

Part of Rancho Los Alamitos, John W. Bixby, and the original park superintendent planted trees on the site between 1886 and 1903.  The original portion of the park was donated in 1903, by the Alamitos Land Company, as part of the subdivision of the Alamitos Beach Townsite.

It was known as Alamitos Park, after annexation to Long Beach in 1905, the park was renamed Jotham Bixby Park in 1907.

Fund II Target Investments

Acquisition Size: $1.5 - $5 million

Property Types: Multifamily, In-fill land, Single-family residential

Location: Coastal markets within Orange County and Los                              Angeles County as well as key sub-markets within                          Los Angeles and Hollywood

Leverage: Up to 65% leverage on a portfolio basis

Target Return: 

  • 15% - 18%+ net IRR
  • 1.5x - 2.0x net Multiple
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Lujan/Merriman Development Group

5050 E. 2nd Street #14806 Long Beach CA 90853 United States

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