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Huntington Beach Apartments Trade for First Time in 50 Years
CBRE closed the sale of Beachwood Apartments, an 18-unit multifamily community in Huntington Beach, to a private investor. The sale price of $8.65 million represents $480,556 per unit and $547 per square foot.
EVP Dan Blackwell and first VP Mike O’Neill represented both the buyer and the seller in the transaction. The seller was a repeat client based in Huntington Beach, and the buyer, also a repeat client, was based in Fountain Valley. Neither the buyer nor seller was in a 1031 exchange.
“Our marketing efforts generated nine competitive offers for Beachwood Apartments, which was listed for sale for the first time in more than 50 years,” Blackwell noted. “Investors were attracted to this generational buying opportunity due to its exceptional coastal location in the 100 block of downtown Huntington Beach, and its upside potential.”
Built in 1971 and located at 125 16th St., Beachwood Apartments has a mix of one-, two-, and three-bedroom floor plans totaling 15,809 rentable square feet. Select units have their own private patio or balcony, and some units offer ocean views.
- ◦Sale/Acquisition
