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8/18/20
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A four-unit apartment property in Huntington Beach sold for $1.48 mil, or $270k/unit, and a closing cap rate of 2.94%. The property is located at 7601 Amazon Dr, south of Edinger Dr and west of Beach Blvd, just off the 405 Fwy.
Built in 1966, the property consists of one three-bedroom/two-bath unit, two two-bedroom/two-bath units, and one two-bedroom/one-bath unit. At time of sale, it was 100% occupied. The new owner plans to renovate and improve the units. At time of sale, it was 100% occupied.
Daniel Scheid, Kevin J. King and Ryan T. Gonzalez with Marcus & Millichap represented the buyer and the seller, both private investors.
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