Flipping Apartments and Making Millions Off Ocean Beach
Somebody’s got to do it, right? Somebody’s got to come in to OB and flip some apartments and make some millions. Right?
That’s exactly what the owners of the 22-unit apartment complex at 5041-43 Santa Monica Avenue believe. They came in about 2 years ago, bought them for $4.75 million, did some improvements ( a lot they claim) and have now turned around and are trying to sell the place for $7.6 million.
That’s almost $3 million. In 2 years – not bad. Of course, they spent a bunch in the improvements. We reported on the original sale back in September 2013. Here’s what we said then:…


By Jim Miller
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