The Claremont Club on Monte Vista Sold for $18.5 Million
Tennis Club Sells Los Angeles Facility
A private investor purchased The Claremont Club at 1777 Monte Vista Ave. in Claremont, California, for $18.5 million from Claremont Tennis Club. The buyer spent an additional $1.1 million on related fixtures, furniture and equipment.
The facility totals 82,946 square feet and features 27 tennis courts, a central grandstand, Olympic-size swimming pool with hot tubs and saunas, a fitness center, yoga and Pilates studios, cardio room, day spa, salon, weight room, cycling room, and racquetball and pickleball courts.
The property had been temporarily closed down due to COVID-19 restrictions. The seller had owned the property for roughly 50 years.
The buyer, which owns another club in nearby Carmel, California, plans to operate the facility as an athletic club. This sale represents the buyer's upleg in a 1031 tax-deferred exchange.