CBRE recently facilitated the sale of two four-unit multifamily properties in Huntington Beach to a private investor. The properties were sold for $2,712,500 each, with a combined sales price of $5,425,000 and an average unit price of $678,125.
Leading the transactions were EVP Dan Blackwell and first VP Mike O’Neill who represented both the buyer and seller. The fourplexes located at 321 22nd St. and 317 22nd St., respectively in Huntington Beach were sold by a local seller to an out-of-town buyer from Westminster without any involvement in a 1031 exchange.
These properties had never been listed for sale before making this transaction significant not only for CBRE but also setting record prices as the highest-priced fourplexes sold within two years in Huntington Beach.
According to Blackwell: “The adjacent multifamily assets are mirror images occupying double lots which provide potential alternative asset plans.”
