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9/26/22
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A newly renovated 20-unit garden-style multifamily community in Westminster, CA sold for $5.96 mil, or $298k/unit. The property was recently improved with an exterior renovation completed in 2022.
Located at 8361 15th St, the property consists of eight one-bedroom/one-bathroom units and 12 two-bedroom/one-bathroom units. Originally built in 1963, the garden-style property offers amenities including a common area on-site laundry room, updated courtyard, and 30 assigned parking spaces. The property’s recently completed improvements include a new roof, new asphalt, and new landscaping.
The buyer, a local resident/investor in Orange County, was in a 1031 Exchange. Mark Bridge with Cushman & Wakefield represented both sides in the transaction.
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