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4/09/21
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In a recent OC multifamily sales comp, a 10-unit asset in Costa Mesa traded for $4.71 mil ($471k/unit). Both parties were private investors.
The community, located in Eastside Costa Mesa at 377 and 381 E. 18th St, is within a two-block walking distance of various retail outfits, restaurants, and grocery amenities on 17th Street. Comprised of 10 detached homes on two parcels, all units feature two- and three-bedroom floorplans with private yards and laundry hook-ups.
Dan Blackwell and Mike O’Neill with CBRE represented the buyer and seller, a family trust, in the transaction. According to Blackwell, the listing generated 10 offers within the first week and closed escrow within 30 days.
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