CBRE recently announced the successful sale of Beachwood Apartments, a highly sought-after multifamily community in Huntington Beach. The property was sold to a private investor for $8.65 million, equating to an impressive $480,556 per unit and $547 per square foot.
Leading the transaction were EVP Dan Blackwell and first VP Mike O’Neill who represented both parties involved – the buyer and seller. The seller is a repeat client from Huntington Beach while the buyer is also a returning client based in Fountain Valley. Notably, neither party was participating in a 1031 exchange.
According to Blackwell, their marketing efforts resulted in nine competitive offers for this rare opportunity that had not been on the market for over five decades. Investors were drawn to its prime coastal location on downtown’s 100 block of Huntington Beach as well as its potential for future growth.
Constructed in 1971 at 125 16th St., Beachwood Apartments features one-, two-, and three-bedroom units spanning across approximately15,809 rentable square feet. Some units boast private patios or balconies while others offer stunning ocean views.
