List Search

321 Tremont St
Avalon, CA 90704 Catalina Island

$10,750,000 USD

Apartments For Sale  •  58,700 SF

Property Details

  • Property Type Apartments
  • Total Building Size 58,700 SF
  • Lot Size 1.68 AC
  • Building Class C
  • Year Built 1983
  • Zoning AVU
0 Transit Score
85 Walk Score

Highlights

Prime Island Location: Walkable Avalon location near beaches, shops, restaurants, and ferry—offering lifestyle and convenience to residents.
Desirable Unit Mix: (10) 1BD, (37) 2BD, (15) 3BD units appeal to families, couples, and essential workers seeking long-term coastal housing.
100% Occupancy: Zero vacancy with a 30+ year waitlist; strong demand from local workers, seasonal staff, and long-term tenants.
Institutional Asset: 1.42-acre property with laundry, playground, and shared areas designed for long-term tenant retention.
Guaranteed Income: 100% of rents paid via HUD HAP contract—eliminates leasing risk and ensures secure, on-time collections.
Hands-Off Yield: Projected 13.53% IRR with HUD-backed rent, no turnover, and minimal management—ideal for passive investors.

Amenities

  • 24 Hour Access
  • Heating
  • Kitchen
  • Refrigerator
Tony Azzi Marcus & Millichap
Tony Azzi Marcus & Millichap