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Huntington Beach Apartments Trade After 30-Year Hold
CBRE closed the $7.4-million sale of the 18-unit Yorktown Apartments at 7701 Yorktown Ave. in Huntington Beach, marking the property’s first time on the market in more than 30 years. The sale price equated to $411,111 per unit and $465 per square foot.
The CBRE team of Dan Blackwell and Mike O’Neill represented the Newport Beach-based private seller, who was in a 1031 exchange, and the all-cash private buyer, also from Newport Beach.
“Leveraging CBRE’s strategic marketing approach, combined with the limited availability of larger multifamily properties in Huntington Beach, the Yorktown Apartments became a highly sought-after asset, generating considerable interest and eight competitive offers,” said Blackwell.
The property comprises one studio and 17 two-bedroom units, totaling approximately 15,903 square feet of rentable space across two buildings constructed in 1973 and 1974. Recent improvements include new exterior paint, garage roofs, stairs, upper-level walkways, and washers and dryers.
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- ◦Sale/Acquisition
