Clarissa Court Apartments 130 Clarissa Ave

Coastal Commercial is pleased to present Clarissa Court Apartments, an exceptional investment opportunity located in the charming city of Avalon on Catalina Island. This 22-unit multifamily property represents a rare chance to own a premier asset in one of Southern California’s most exclusive and sought-after markets.
Nestled in the heart of Avalon, Clarissa Court Apartments enjoys a prime location surrounded by a vibrant blend of retailers, restaurants, and essential services-all within walking distance. The property benefits from high pedestrian traffic and close proximity to local amenities, making it highly desirable for tenants.
Avalon is a high-barrier-to-entry market with limited supply. There are very few multifamily properties that are on Catalina Island. New developments are rare and costly, making this asset ideal to service the steady demand for housing in Avalon.
The subject property consists of approximately 9,684 gross leasable square feet on a 29,085 square foot lot. The property is subject to a leasehold agreement with approximately 32 years remaining ensuring a secure, long-term investment horizon. The ground lease payments are equal to five (5%) percent of the gross income collected, which creates predictable and sustainable ground lease payments for the next 32 years.
While its steady rental income and potential for value-add opportunities, Clarissa Court Apartments offers a compelling investment in a market characterized by limited competition, strong demand, and exceptional appeal. This is a unique opportunity to acquire a multifamily asset in Avalon on Catalina Island, a coastal community unlike any other.