Investors Head to South Bay for Value-Add Deals

A private investor has picked up a value-add apartment deal in the thriving South Bay submarket. The 16-unit property is located in El Segundo and attracted a competitive eight offers. The property ultimately sold for $5 million.

The South Bay is rapidly growing with a strong tech company presence, including YouTube, BuzzFeed, Salesforce and Electronic Arts. The buyer plans to complete both interior and exterior renovations on the property.

CBRE’s Mike McKinney, Nancy Bush and Mark Okuma represented the buyer.