SANTA MONICA, CA
Ocean Avenue Penthouse

With its near perfect year round weather and oceanfront walk, Santa Monica, California has long been a favorite resort town. The world famous Santa Monica Pier offers up a casual sea stroll as well as an assortment of amusements and restaurants; built in 1909, it has been a perennial tourist attraction ever since. Santa Monica and the adjacent Venice, California have been home to countless musicians, filmmakers, athletes and artists of all types through the years. The 325 days of sunshine make it an attractive city to open branch offices, and companies such as Microsoft, Yahoo, Google, Universal and MTV have all made Santa Monica their home.

Accredited Investors, L.L.C. provided the equity capital for the acquisition of a 2000 square foot condo located on Ocean Avenue, the most desirable ocean view avenue in Santa Monica. The condo was purchased in February of 2004 for $1,600,000. After remodeling, the property was resold in April of 2004 for $2,200,000 netting over half a million dollars profit just 3 months later.

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