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Senior Apartments in Huntington Beach Sold for $49M
Newport Beach-based KDF Communities acquired Five Points Senior Apartments, a 166-unit multifamily community in Huntington Beach from an unnamed private party for $49 million. The deal traded at a 15.68 GRM and 3.67% cap rate.
The property at 18561 Florida St. was built in 1993 and was owned by the developers. The sale marks the first time for the asset to be on the market. It features new construction with large, two-bedroom units available. Amenities include a library and fitness center.
Colliers International’s Pat Swanson, John L. Nguyen and Ron Peled represented both buyer and seller.
Colliers’ Nguyen says, “This deal represents the strength of the multifamily industry – even during a pandemic – in Southern California and specifically in Huntington Beach, which is historically a desirable beach neighborhood with upscale retail, dining and boutiques.”
He notes, buyers were drawn to the property’s quality and premier location in a strong rental market with the potential to achieve 20% higher rental rates.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




