Costa Mesa Multifamily Changes Hands for Value-Add Repositioning
Marcus & Millichap finalized the sale of 1990 Maple Ave., a 41-unit multifamily property in Costa Mesa. The property sold for $16.9 million or $412,195 per unit, approximately $550,000 above the property’s 2018 selling price. “Sundance West Apartment Homes presented a rare opportunity to acquire a low-density multifamily community in one of Orange County’s most supply-constrained rental markets,” said Matthew Kipp, senior managing director investments. “The property’s unique concentration of two- and three-bedroom floor plans […]