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7/26/21
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A nine-unit multifamily property in Huntington Beach was purchased by a private investor for $4.95 mil, which works out to $550k per unit, in a deal we’ve been told marks the highest price per unit paid for a multifamily asset in Huntington Beach to date.
Located at 216 6th Street, the property includes nine two- and three-bedroom units, each with a private patio and/or balcony and averaging 1k sf in size. The secured-access building is within walking distance to the Pacific Ocean, Downtown Main Street and Pacific City Center.
Dan Blackwell and Mike O’Neill with CBRE represented the buyer, a family trust, in the transaction.
“The previous family owned the asset for more than 30 years, and we rarely see properties in this iconic coastal location come up for sale,” said Blackwell. “Due to the proximity to amenities and attractions and the area’s strong rental demand, the property garnered a lot of investor interest, and we were able to generate six offers, ultimately closing with an all-cash buyer at record pricing.”
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