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Azure The Residences 11900 Courtleigh Dr 28 Unit Apartment Building $17,300,000 ($617,857/Unit) 5.25% Cap Rate Los Angeles, CA 90066
Investment Highlights
- Excellent Performance: 100% Current Occupancy with Zero Bad Debt and No Concessions
- Shared Rooftop with 360-Degree Views of West LA and the Coastline from Palos Verdes to Malibu
- Durable Rent Growth: Limited Supply Combined with Strong Occupancy Positions the Submarket for Outsized Rent Growth
- Condo Mapped Asset: Provides Optionality to Execute a Condo Selloff for a Premium, or Continue Operating as Conventional Multi-Housing
- Expansive Floor Plans Differentiate Azure: Units Average ±1,250 SF which is 20% Larger than Del Rey Averages
Executive Summary
Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for sale Azure the Residences (the “Property”), a non rent controlled 28-unit multi-housing investment opportunity located in the coveted Del Rey neighborhood of Los Angeles. Azure the Residences offers spacious floor plans across a diverse unit mix, including one-, two-, and three-bedroom residences, with expansive units averaging ±1,249 square feet. The Property offers a shared community rooftop with panoramic 360-degree views, providing residents with a highly sought-after amenity that takes full advantage of the coastal location.
Built in 2013, the Property delivers a luxury lifestyle in a quiet pocket between Playa Vista, Mar Vista, and Culver City –offering direct access to the best that the Westside has to offer. Notably, the Property is condo mapped and pending DRE approval, providing an incoming investor with meaningful optionality to execute an individual unit sell-off and capture the significant premium that for-sale pricing commands in this submarket.
Azure the Residences represents a rare opportunity to acquire a stabilized, boutique asset in one of Los Angeles’ most supply-constrained submarkets. Proximate to the Silicon Beach employment corridor, the Property benefits from consistent demand from high-income renters, resilient occupancy, and minimal new supply – offering an incoming investor a durable, low-risk income stream in a premier coastal-adjacent location.
Built in 2013, the Property delivers a luxury lifestyle in a quiet pocket between Playa Vista, Mar Vista, and Culver City –offering direct access to the best that the Westside has to offer. Notably, the Property is condo mapped and pending DRE approval, providing an incoming investor with meaningful optionality to execute an individual unit sell-off and capture the significant premium that for-sale pricing commands in this submarket.
Azure the Residences represents a rare opportunity to acquire a stabilized, boutique asset in one of Los Angeles’ most supply-constrained submarkets. Proximate to the Silicon Beach employment corridor, the Property benefits from consistent demand from high-income renters, resilient occupancy, and minimal new supply – offering an incoming investor a durable, low-risk income stream in a premier coastal-adjacent location.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $17,300,000 | Building Class | B |
| Price Per Unit | $617,857 | Lot Size | 0.39 AC |
| Sale Type | Investment | Building Size | 43,096 SF |
| Cap Rate | 5.25% | Average Occupancy | 100% |
| No. Units | 28 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 2013 |
| Property Subtype | Apartment | Parking Ratio | 1.23/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | LAR3-1 | ||
| Price | $17,300,000 |
| Price Per Unit | $617,857 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.39 AC |
| Building Size | 43,096 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 2013 |
| Parking Ratio | 1.23/1,000 SF |
| Zoning | LAR3-1 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- High Speed Internet Access
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Instant Hot Water
- Linen Closet
- Smoke Free
- Wheelchair Accessible (Rooms)
Site Amenities
- Courtyard
- Security System
- Gated
- Grill
- Package Service
- Recycling
- Elevator
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1.5 | 3 | - | 1,054 |
| 2+2 | 1 | - | 1,054 |
| 3+2 | 24 | - | 1,176 - 1,402 |
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Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4233-019-032 | Total Assessment | $18,358,898 |
| Land Assessment | $11,726,348 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $6,632,550 | Tax Year | 2025 |
Property Taxes
Parcel Number
4233-019-032
Land Assessment
$11,726,348
Improvements Assessment
$6,632,550
Total Assessment
$18,358,898
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Azure The Residences | 11900 Courtleigh Dr
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