22-Unit Santa Monica Apartment in Ocean Beach Sells for 2nd Time in Less Than 2 Years
A large apartment complex in the 5000 block of Santa Monica Avenue in Ocean Beach has sold for $7.5 million. This is the second time “Playa”, the 22-unit apartment at 5041-5043 Santa Monica Avenue, has been sold in less than 2 years.
The complex, built in 1957, sits on a one-third-acre lot (assessor’s parcel 448-092-07 and 08) and consists of 14 one-bedroom units and eight two-bedroom units, totaling 14,978 rentable square feet. It has a courtyard, 22 off-street parking spaces and an on-site laundry facility.
The sale also represents one of the largest in terms of units in recent years – and joins a trend we have been watching of late – the sale of apartment complexes in northwest OB – this sale is the 5th this year alone. (We think the trend is “unprecedented”.)

By John Lawrence





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