CBRE finalized the sale of a 13-unit multifamily property at 553 and 555 Victoria St. in Costa Mesa. The transaction closed at $8.6 million, reportedly the highest price per unit achieved for a multifamily property in Westside Costa Mesa over the past 18 months.
EVP Dan Blackwell, SVP Mike O’Neill and associate Jack O’Connor represented the Costa Mesa-based private seller, a repeat client. The buyer is a private investor based in Huntington Beach.
“This transaction underscores the continued strong demand for well-located multifamily assets in Westside Costa Mesa,” said Blackwell. “Leveraging our market knowledge and investor network, we generated significant interest and achieved a record price per unit for our client. The deal was creatively structured with seller financing, which was key to unlocking a strong sales price and achieving this record-breaking outcome for our client.”
The property was on the market for the first time in more than 47 years.
The post Costa Mesa Apartments Achieve High Price Per Unit appeared first on Connect CRE.
