Cushman & Wakefield Brokers $6M Westminster Apartment Sale

Cushman & Wakefield has brokered the sale of a newly renovated, 20-unit garden-style multifamily community in Westminster, CA. The northern Orange County property traded for $5.96 million, equating to a price of $298,000 per unit.

The buyer and seller were private individual investors, with the buyer executing a 1031 exchange. Cushman & Wakefield Multifamily Advisory Group managing director Mark Bridge represented both parties in the transaction.

“This asset provided an investor a great opportunity to acquire a quality apartment asset with strong occupancy and in a great rental location,” said Bridge. “The property boasts an impressive walk score of 84.”

Located on 15th Street, the property consists of one- and two-bedroom units with community amenities including a laundry room and updated courtyard. The recently completed exterior improvements include a new roof, new asphalt and new landscaping.