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California  + Orange County  + Apartments  | 
Newport Beach Multifamily Community Trades for $3.6M, Cushman & Wakefield Brokers Deal

Newport Beach Multifamily Community Trades for $3.6M

Cushman & Wakefield has brokered the sale of a 5-unit multifamily community located at 800 Amigos Way in Newport Beach, CA. The Fahed Group purchased the asset from Woods Family LP for $3.6 million and Cushman & Wakefield’s Mark Bridge represented both sides in the transaction.

“This was a very attractive multifamily investment of a well-maintained asset in a robust submarket of Orange County. The property is nestled atop a hillside and offers an excellent unit mix and range of floorplans,” said Bridge. “The property’s Newport Beach location is near major retail, educational and employment opportunities for residents.”

Built in the 1970’s, the complex is situated on a third of an acre and consists of a pair of two-story buildings comprised of one- and two-bedroom units. Each unit has two covered carports, a balcony/patio and four units offer fireplaces. The community also features an on-site laundry room.

Hear from CRE newsmakers like LaTerra Development Managing Director Chris Tourtellotte. Come together with top dealmakers, owners, investors, lenders and more at Connect LA on May 3 at the Hotel Indigo.


Inside The Story

Cushman & Wakefield's Bridge Multifamily Team

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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