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12/05/23
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Tropicana Apartments, a 21-unit multifamily community in Huntington Beach, was purchased by a private, all-cash buyer in a $7.05 mil ($337.7k/unit) transaction. We’re told this was the largest apartment transaction in downtown Huntington Beach in the past 10 years.
Tropicana Apartments property is located at 201 10th St, one block from the beach. It features four two-story buildings totaling 10.1k sf across six lots on two parcels. Tropicana Apartments offers the buyer a prime coastal location (Walk Score of 82 as “Very Walkable” and a Bike Score of 90, a “Biker’s Paradise”) situated one block from the beach and a nine-minute walk to shops and restaurants in Downtown Huntington Beach (0.4 miles).
The gated community was built in 1963 on 0.40 acres and offers a mix of one- and two-bedroom floor-plans with ocean views in select units. Community amenities include an ocean-view deck, pool and laundry facilities. There are 18 carports plus three garages for residents.
Dan Blackwell and Mike O'Neill with CBRE represented the seller, a private investor based in Huntington Beach, exchanging into a Delaware Statutory Trust (DST). The buyer was also based in Huntington Beach. According to Blackwell, this was the first time the property has been available for sale in over four decades.
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