Madison Partners has successfully arranged the sale 22648 Pacific Coast Highway, a 10-unit luxury apartment building located on Carbon Beach in Malibu, California. Bob Safai of Madison Partners arranged the sale to Mani Brothers Real Estate Group of West Hollywood for $15 million in the off-market transaction.
22648 Pacific Coast Highway is a garden-style apartment community featuring a full array of common area amenities as well as convenient access to the Malibu Pier, local restaurants and a variety of professional services within walking distance of the property. The coastal location is only 100 yards away from world-famous Nobu restaurant and the Malibu Beach Inn, the acclaimed 47-room hotel which was also recently purchased the Mani Brothers Real Estate Group.
Situated along the glamorous stretch of Carbon Beach that is nicknamed “Billionaires Beach”, the property provides tenants nearly 90 feet of beachfront access and unimpeded ocean views from each unit. The property consists of nearly .40 acres of land, improved with a two-story 13,516 square-foot structure.
Preview: Madison Partners Selected To Bring Villa Malibu To Market
In addition to the sale at 22648 Pacific Coast Highway, Madison Partners just listed Villa Malibu, a 68-unit luxury apartment community situated on 10 acres of hillside land located along the picturesque Pacific Coast Highway. Truly a one-of-a-kind asset affording an investor the ability to take advantage of existing cashflow (97% occupied) or to position the property for a condo conversion, as entitlements are already in place. The units have indoor living space of up to 2,200 SF and most have balconies that afford supplementary living space and ocean breezes. In addition to the unparalleled location, the offering boasts amenities galore, including but not limited to, a gym, tennis courts, a dog park and a resort style swimming pool with cabanas. Please contact Bob Safai, Matt Case, Brad Schlaak or Darin Beebower if you have an interest in this opportunity.