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Local Investor Scores Two Huntington Beach Fourplexes
CBRE closed the sales of two four-unit multifamily properties in Huntington Beach to a private investor. Both properties sold for $2,712,500 each, representing $678,125 per unit and a combined sales price of $5,425,000.
EVP Dan Blackwell and first VP Mike O’Neill represented both the buyer and the seller in two transactions: a fourplex at 321 22nd St. and the neighboring fourplex at 317 22nd St. in Huntington Beach. The seller was based in Huntington Beach, and the buyer was from Westminster. Neither the buyer nor the seller was in a 1031 exchange.
This was the first time that either property was listed for sale. The sale price also set a record as the highest price for a fourplex in Huntington Beach over the past two years, according to CBRE.
“The two neighboring multifamily assets are identical properties, each sitting on a double lot,” said Blackwell. “As a result, the investor acquired a total of four contiguous lots, offering potential alternative asset plans.”
- ◦Sale/Acquisition

