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315 Cherry Sold Video Capture

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LMDG Real Estate Value Fund II ("Fund II") has entered escrow to sell 315 Cherry Ave.  The sale is in late stages with all contingencies removed.  The transaction is expected to close in August.

This property is located in Alamitos Beach near the highly desirable Retro Row, Bixby Park, and Ocean Blvd.

Renovations were completed to restore the buildings original 1920's character.  The building was also greatly enhanced in our usual fashion with the addition of modern amenities required by today's astute tenant.


Deal Highlights

Sales Price: $3,050,000

Rent Increase: 80%+

Price Per Door: $380,000+

Rent Per Sqft: Nearly $3 (product & area record)



Aaron Merriman