Fortuna Asset Management - Santa Monica, California

Gloria R.

I recently completed roofing and gutter work for Fortuna in Connecticut. I had the pleasure of collaborating with Arvin, and we had a great time working together. The payment process was smooth, and they were happy with the results!

Sam G.

Fortuna erected a large, unpermitted, non-approved building within their neighbors setbacks, without filing for permit, posting property signage, getting signatures, and more. Increasing potentials for fires among the neighbors. And lessening the parking in the area by four. And making their employees walk further or pay more. Overall having a total lack of respect for the community which has to reside there.

They also used unlicensed contractors, without permit, to build a structure which is not up to legal code. They did not pay these workers legal livable wages either. There were never any signs posted, or osha laws being followed at the work site. And when we tried to interact with several of the workers, they told us they do not speak any English. We were not able to communicate to the owners or ask them questions.

Permits were not pulled. They have connected the outdoor structure to their interior structure with some sort of shipping container tunnel, which calls more attention to the property as shipping containers are not supposed to be used as a workable space in this area because the are not seismically fitted or fire proof. Overall, this nearly 9% more building improvement, and their taxes on title do not have appeared to have increased that amount either.

When attempted to contact Farhad Abolfathi him were made, there always seems to be an excuse, delay, or a handoff to his underling which would not assist us in this problem or render a response about why the work was done unpermitted.

To give you further idea of what a lack of regard 2010 EAST 7TH STREET LLC and Fortuna Management have for the local laws and aesthetics, we have more details. It appear these guys would break any rule to make an extra buck at the expense of others.

Beyond building codes, safety codes, and regards for the neighbors, this also means the owners of 2010 E 7th Street are now leasing this property out, yet not paying the proportional tax amount to the county accessors. Alongside not paying their fair share of required taxes, they have now taxed the neighbors and neighborhood with the burden of more of their cars street parking, versus what was allowed within their back parking lot.

To speak further on these property owners, and to show more evidence that corroborate their lack of respect and adherence to the laws, they recently allowed for an old car-pulled food truck to operate from inside of this building, and calling it a restaurant. Under what they described as a “loophole” in our local law, to dispel neighbors questions. Many people questioned the overall sanitation, legality and well being of this setup. So many food trucks have heavy oversight with regards to sanitation, drainage, and water, yet the owners allowed this to go on unchecked for a long time. Since then PERLS has gone out of business but see appendix B for pictures of the foot truck operating inside of 2010 E 7th Street.

We realize that the local and city laws are in effect to keep order. We also know neighors, investors, and owners all must go through the proper channels at LABD to get the proper permits and approvals before erecting such a structure in Los Angeles.

Eliza A.

We had the best experience finding our dream apartment through Fortuna in the most beautiful bldg in downtown Santa Monica. They made the application process so easy, they manage everything through a portal online and since we've moved in they continue to be accessible and helpful. I've worked with Arvin, Carolina and Sean in the office and they've been so professional, providing an excellent experience. Overall 10/10 would recommend!!

H L.

Fortuna asset has been managing my two houses for the past 8 years. The employees are very polite and caring toward me and my tenants. They provide good advice and service to me and my tenants at a reasonable fee and have excellent record keeping of all communications and transactions. Because of them I kept the properties as rentals and will continue to ask them to manage them for me through my retirements.

Lily M.

Fortuna Asset Management is an excellent partner for real estate investors. With their comprehensive services, knowledgeable team, and commitment to maximizing the potential of assets, they deliver solid results. Their expertise in planning, development, and financial strategies ensures value enhancement and reasonable returns on investment. Trustworthy and professional, Fortuna Asset Management is a reliable choice for anyone seeking a competent and dedicated real estate management partner.

Mark S.

This is the worst property management ever! FRAUDSTERS ALERT!

Found on Yelp and asked for simple estimate. They agreed to one set price.

Appointments were set. Farhad called and cancelled day of appointment with no excuse. Used foul language.

I was Ridiculed and treated like trash by this business.

Unwilling to see or work with logic or rational.

I wouldn’t have them manage a cold for me, let alone a building.

George S.

I had a great experience leasing with Fortuna Asset Management! Their staff was very professional and easy to work with. Really excited to move into such an awesome apt/building in a perfect location.

Thanks again!

Andrei

Review for their management of the 1505 9th St. Santa Monica property:

The elevator was broken for 7mos and management refused to reduce rent. Balcony floods with rain water and doesn't drain and I'm told "just sweep it". Packages are left in front of the glass door by the sidewalk and in the common area where commercial customers walk through. Then get stolen regularly and management has yet to create a solution. Windows are old and bang when there's any wind. Management treats the small businesses that rent commercial space like trash. TLDR, don't move here..