Updated Sep 8, 2026
Coastline Real Estate Advisors Purchases 101-Unit Promenade In Marina Del Rey For $24.8M
4333 Admiralty Way
$24,800,000
Units
101
Asset Type
MultiFamily
Closing
Sep 7, 2026
About this deal
AI
The asset involved in the transaction is a multifamily property located at 4333 Admiralty Way, Marina del Rey, CA. The sale closed for $24,800,000, consisting of 101 residential units. The per unit price amounts to $245,545. The property is currently 96% leased and is subject to a Los Angeles County ground lease that extends through 2067.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,800,000
- Units: 101
- Price Per Unit: $245,545
- Buyer: Steven Ludwig - Coastline Real Estate Advisors
- Seller: Angela Kleiman - Essex Property Trust
- Brokers: Stew Weston & Rosie Cooper - Matthews
The transaction marks the first trade for the Promenade community in over 20 years. Stew Weston and Rosie Cooper represented both the buyer and seller in this deal, facilitating the transfer of ownership.
On the Map
$24,800,000
MultiFamily
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Players
Way MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93