Elements 616

Units

105

Location

Redondo Beach, CA

Year

1971

Acquisition Price

53,500,000

Projected Returns

15%+ IRR

Elements 616

IDEAL acquired this distressed coastal asset in May 2019, seeing it as a ripe opportunity for value-add repositioning. At closing, the property was 12% occupied and required $5M in rehabilitation. We’re now extensively renovating the asset.

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Community Highlights

  • Resort Style Pool
  • Outdoor Fireplace
  • Steps from the beach
  • Ocean Views
  • Seated Garden Courtyards

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