**Costa Mesa Multifamily Property Sells for Record-Breaking Price Per Unit**
CBRE has completed the sale of a 13-unit multifamily property located at 553 and 555 Victoria Street in Costa Mesa. The property closed at a price of $8.6 million, marking the highest per-unit sale price for a multifamily asset in Westside Costa Mesa in the past 18 months.
The transaction was brokered by CBRE’s Executive Vice President Dan Blackwell, Senior Vice President Mike O’Neill, and Associate Jack O’Connor. The seller, a Costa Mesa-based private party and repeat client, was represented by CBRE. The buyer is a private investor from 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.”
Notably, this marks the first time the property has been on the market in over 47 years.
