Coda Equities
Coda Equities is a Los Angeles-based, privately held real estate investment firm founded in 2016 that acquires, repositions, and operates commercial and multifamily properties across Southern California for accredited and institutional investors.
- Company typePrivate
- Founded2016
- HeadquartersLos Angeles, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Coda Equities does
Coda Equities is a Los Angeles-based, privately held real estate investment firm founded in 2016 that acquires, repositions, and operates commercial and multifamily properties in primary and emerging submarkets across Southern California. The firm targets assets priced between $2 million and $20 million — including multifamily rent-controlled buildings, mixed-use properties, and retail centers — in neighborhoods such as Highland Park, Hollywood, Glendale, Silver Lake, Echo Park, Beverly Hills, Sherman Oaks, and Historic Filipinotown. Coda applies a value-add strategy built on acquiring assets with below-market rents, executing renovations and repositioning, and running aggressive leasing programs; documented case-study outcomes include a 56% average rent increase at Sycamore Terrace, a 30% income uplift at Cahuenga Noho, a 19.48% investor IRR on the 5684 York Blvd. deal, and a $22 million disposition of Franklin Park Apartments in 2021.
The firm is led by three co-founders — Jonah Garb (commercial sourcing and investor relations, formerly at LS Capital), Dru Boyarsky (acquisitions, financing, and operations, formerly at Monem Corporation where he ran a 900-unit property management division), and Mike Sloan (commercial portfolio, operations, and construction, formerly VP at Jamison Services, California's largest office landlord) — supported by Controller Randy Du and Office Administrator Charlotte Terhune. The team is small but carries deep combined operating experience.
Coda generates revenue through two primary streams: recurring rental income from stabilized and repositioned assets, and capital appreciation realized at disposition. It distributes investment offerings directly to accredited and institutional investors via personal relationships, referrals, and an AppFolio-powered investor portal; deal flow originates through established broker networks (Marcus & Millichap, CBRE) and is financed via lending relationships with Convoy Capital and First Republic Bank.
Coda Equities firmographics
Firmographics- Name
- Coda Equities
- Legal name
- Coda Equities
- Website
- https://codaequities.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Coda Equities is a Los Angeles-based, privately held real estate investment firm founded in 2016 that acquires, repositions, and operates commercial and multifamily properties across Southern California for accredited and institutional investors.
- Ownership category
- akta.pro rank
Coda Equities industry classification
Industry- Product category
- Commercial and multifamily real estate investment
- NAICS
- Lessors of Real Estate (5311), Portfolio Management and Investment Advice (523940)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)
- akta.pro primary industry
- Value-Add & Opportunistic Real Estate (FSAAAKAB)
- akta.pro secondary industry
- Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)
Keywords
Where Coda Equities is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Coda Equities business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Rental Income: Revenue generated from commercial and multifamily properties through monthly rental payments from tenants in stabilized assets.
- Property Value Appreciation: Returns realized through appreciation of acquired properties, achieved via repositioning, renovations, and market rent growth. Properties are acquired below market value and improved to increase worth.
- Property Disposition: Profits generated from the sale of repositioned assets. Case studies show returns through property appreciation and subsequent sale at significantly higher prices than acquisition cost.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Coda Equities product offering
Product offeringCore offering
Coda Equities is a fully integrated real estate investment firm that acquires and repositions commercial and multifamily properties in primary and emerging submarkets throughout Southern California. The firm targets assets priced between $2,000,000 and $20,000,000, specializing in stabilized properties with in-place under-market rents and distressed properties where value can be added through repositioning and aggressive leasing programs. It sources deals through broker relationships and delivers institutional-style asset management to accredited and institutional investors.
Product overview
Coda Equities is a Los Angeles-based real estate investment firm that operates a portfolio of commercial and multifamily real estate assets in prime urban and emerging markets throughout Southern California. The firm acquires and repositions assets—particularly those with below-market rents or distressed positioning—through intensive management, renovation, and aggressive leasing programs. The portfolio consists of nine featured property assets (Ventura, Temple, Sunset 3912, Sunset 2201, La Prada, Doheny, Cahuenga Hollywood, East Windsor, and West Windsor), plus several documented case study properties including 5684 York Blvd., Everett Investment Properties, Cahuenga Noho, Sycamore Terrace, and Indiana. The firm also recently acquired Franklin Park Apartments (6615 Franklin Ave., Hollywood) and the Verdugo Plaza shopping center in Glassell Park. Coda targets properties priced between $2 million and $20 million in Southern California, utilizing an investor portal for capital management and relationships with lenders including Convoy Capital and First Republic Bank for financing.
Differentiator
Problem solved
Functional benefit
Products and services
- Multifamily and Commercial Real Estate Investment Opportunities Standing offering of acquisition and repositioning investments in commercial and multifamily properties across Southern California submarkets, underwritten for accredited and institutional investors seeking capital preservation, appreciation, and inflation hedging. The portfolio includes featured assets such as Ventura, Temple, Sunset 3912, Sunset 2201, La Prada, Doheny, Cahuenga Hollywood, East Windsor, and West Windsor.
- Asset Repositioning and Value-Add Management Services Operational and construction-led repositioning of stabilized and distressed assets, including aggressive leasing programs, rent increases to market, unit renovations, and amenity upgrades executed for owned assets on behalf of investors. Documented outcomes include 56% rent increase on Sycamore Terrace, 30% income increase on Cahuenga Noho, and Barcade lease execution at 5684 York Blvd.
- Franklin Park Apartments Investment
- Verdugo Plaza Shopping Center Investment A three-building half-empty shopping center at the corner of Verdugo Road and Arthur Street in Glassell Park, acquired by Coda Equities for $6.2 million with architecture by Barbara Bestor to reposition for millennial and artist tenants in the gentrifying neighborhood.
- 5684 York Blvd. Retail Investment A free-standing 5,600 square foot restaurant/retail property on York Blvd. in Highland Park, acquired for $2.15M and leased to Barcade within three months of closing, then sold for $4.125M delivering 19.48% Investor IRR with 1.53X equity multiple.
Quantifiable outcome
- 19.48% Investor IRR on 5684 York Blvd. investment with 1.53X equity multiple
- +4 more outcomes
Companies that use Coda Equities
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Coda Equities technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Coda Equities partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered notable and core.
- BarcadenotableBarcade, New York's best-known arcade bar, is a tenant at Coda's 5684 York Blvd. property in Highland Park. Coda negotiated lease terms with Barcade that exceeded original projections. The lease was signed August 1, 2017, less than three months after Coda closed escrow on the property.
- CBRE / Karol LecoreCBRE broker Karol Le represented Coda in the acquisition of Verdugo Plaza in Glassell Park for $6.2 million. Karol Le marketed the property and highlighted its appeal to millennials, artists, and the gentrifying community.
- Marcus & MillichapcoreMarcus & Millichap represented Coda Equities in the sale of Franklin Park Apartments at 6615 Franklin Ave. for $22 million. Brokers Rick Raymundo and Shane McConnell found the buyer and generated 40 buyer tours with 17 competing offers.
- Silver Lake architect Barbara BestornotableArchitect Barbara Bestor's firm was hired by Coda Equities to redesign the Verdugo Plaza shopping center, including opening up the corner building to the surrounding neighborhood and updating signage, color, and landscape.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Coda Equities competitors and assessment
Company assessmentOthers
- Marcus & Millichap: Commercial real estate investment brokerage that represented Coda on the Franklin Park disposition. Functions as a key intermediary and competitor for deal flow in the same SoCal submarkets Coda targets.
- Jamison Properties: Southern California commercial real estate firm where co-founder Mike Sloan previously served as VP. Operates in the same SoCal commercial property market and represents the broader regional competitive context.
Direct peers
- Mosaic Real Estate Investors: Real estate investment firm focused on acquiring value-add multifamily properties in U.S. growth markets with active repositioning and refinancing programs. Comparable deal-size range and acquisition thesis.
- Levy Affiliated Holdings: LA-based real estate investment and management firm focused on value-add multifamily and mixed-use assets across Southern California. Comparable in submarket focus, repositioning strategy, and investor syndication model.
- BlueRock Real Estate: California-focused multifamily value-add investor that targets underperforming assets for repositioning. Comparable in acquisition strategy and submarket focus on West Coast urban infill markets.
- Gelt Inc. Los Angeles-based value-add multifamily investment firm that acquires, repositions, and manages apartment communities across Southern California. Closely comparable in geography, deal size band ($1M–$10M), and value-add repositioning strategy targeting below-market-rent assets.
- JRK Property Holdings: Los Angeles-headquartered multifamily investment and property management company that acquires, repositions, and operates apartment assets across the Western U.S. Highly comparable in operating model and SoCal footprint.
- The Bascom Group: Southern California-based value-add multifamily operator that acquires underperforming properties and executes renovation/repositioning programs. Highly comparable in business model (acquire below-market, reposition, refinance) and SoCal submarket focus.
- Pillar Capital Group: Real estate investment firm focused on acquiring and repositioning multifamily and mixed-use properties in primary Western U.S. markets including California. Comparable deal-size band, value-add orientation, and investor capital structure.
Broad incumbents
- Ares Real Estate Group: Large institutional real estate platform with multifamily value-add and opportunistic strategies across the U.S. While far larger than Coda, Ares represents the broader incumbent capital competing for the same value-add California assets.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Coda Equities social profiles
Digital presenceCoda Equities financial estimates
Financial estimateRevenue estimate
Valuation estimate
Coda Equities leadership team
Management profileNumber of profiles
Profiles5 records
Coda Equities subsidiaries and ownership
Company hierarchySubsidiaries1 record
Coda Equities funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Coda Equities M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Coda Equities
What does Coda Equities do?
Coda Equities is a fully integrated real estate investment firm that acquires and repositions commercial and multifamily properties in primary and emerging submarkets throughout Southern California. The firm targets assets priced between $2,000,000 and $20,000,000, specializing in stabilized properties with in-place under-market rents and distressed properties where value can be added through repositioning and aggressive leasing programs. It sources deals through broker relationships and delivers institutional-style asset management to accredited and institutional investors.
Is Coda Equities a public or private company?
Coda Equities is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Coda Equities founded?
Coda Equities was founded in 2016. It employs 11 to 50 people.
Where is Coda Equities based?
Coda Equities is headquartered in Los Angeles, United States, in the North America region.
How does Coda Equities make money?
Three revenue lines are on record. Rental Income is the primary driver. The others are property Value Appreciation and property Disposition.
Who are Coda Equities's main competitors?
Others on record are Marcus & Millichap and Jamison Properties. Direct peers are Mosaic Real Estate Investors, Levy Affiliated Holdings, BlueRock Real Estate, Gelt Inc., JRK Property Holdings, The Bascom Group and Pillar Capital Group. Ares Real Estate Group is listed as a broad incumbent.
Does Coda Equities have an API?
No public API is recorded for Coda Equities.
What industry is Coda Equities in?
Coda Equities's product category is Commercial and multifamily real estate investment. Its primary akta.pro industry code is FSAAAKAB, Value-Add & Opportunistic Real Estate, with a secondary code of BPAJABAL, Capital Markets Advisory (Equity Placement, JV & Recapitalization). Its NAICS code is 5311 and its SIC code is 6532.