CBRE recently facilitated the sale of Sterling Plaza Apartments, a 12-unit multifamily community located at 2607 Solana Way in Laguna Beach. The property was sold to a private investor for $7,375,000 or $614,583 per unit and $751 per square foot. This marks the first time in four decades that this family-owned property has been sold.
Executive Vice President Dan Blackwell and Senior Vice President Mike O’Neill represented the seller based in San Francisco Bay Area. They also represented the buyer who is a returning client from Los Angeles County looking to invest through Delaware Statutory Trust.
According to O’Neill: “Sterling Plaza Apartments is an exceptional property with its distinctive design and prime location along Coast Highway in Laguna Beach – one of California’s most sought-after rental markets. Each unit offers stunning ocean views and convenient access to beaches as well as all that Laguna Beach and South Orange County have to offer.”
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