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Optimus Purchases Santa Monica Multifamily for $12M – Connect CRE

A 22-Unit apartment complex in Santa Monica, CA featuring ocean views and spacious floor plans, has been purchased by Optimus Properties, LLC for $12 million. The building is located at 2901 4th St., just a half mile from the ocean and a short walk from the Santa Monica Pier and Venice Boardwalk.

“Having grown up in the Los Angeles area, we are very aware of the desirability of living in Santa Monica and are very pleased to have had the opportunity to add this trophy asset to our portfolio,” said Optimus principal, Kamyar Shabani in a news release.

The firm plans on renovating the 50-year-old property during natural vacancies, with a combination of new appliances, flooring and bathrooms. With the acquisition, Optimus now owns nearly 900 units across the LA Metro area, in addition to several other states.