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6/18/25
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Yorktown Apartments, an 18-unit multifamily property in Huntington Beach, was purchased by a private investor from nearby Newport Beach in a $7.4 mil ($411k/unit) deal. This was the first time on the market in over 30 years for the property, located at 7701 Yorktown Ave, between Main St and Beach Blvd.
The property comprises one studio and 17 two-bedroom units, totaling approximately 15.9k sf of rentable space across two buildings constructed in 1973 and 1974. The 0.7-acre site includes a community courtyard, picnic area, and private patios or balconies in select units, with 35 total parking spaces (17 garage spaces and 18 open-space parking). Recent improvements include new exterior paint, garage roofs, stairs, upper-level walkways, and washers and dryers.
CBRE’s Dan Blackwell and Mike O’Neill represented the all-cash buyer and the seller, who was in a 1031 exchange. Blackwell notes that the listing generated considerable interest and garnered eight competitive offers.
The property closed in 66 days and sold for 97% of the list price, equating to $411,111 per unit and $465 per square foot. The buyer achieved a cap rate of 4.5% at closing, with the property offering approximately nine percent upside in current rents and the potential to add two accessory dwelling units (ADUs).
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