HUNTINGTON BEACH, CALIF. — CBRE has brokered the sale of Beachwood Apartments, a multifamily property located at 125 16th St. in Huntington Beach, approximately 35 miles southeast of Los Angeles. The asset traded for $8.6 million, or $480,556 per unit.
Built in 1971, Beachwood Apartments features 18 one-, two- and three-bedroom apartments totaling 15,809 rentable square feet. Select units have private patios or balconies and some units offer ocean views. Each unit features an individual water heater and individual meters for gas and electricity. Community amenities include a courtyard, sun deck, laundry facilities, 24 garage spaces and an on-site manager.
Dan Blackwell and Mike O’Neill of CBRE represented the Huntington Beach-based seller and the Fountain Valley-based buyer in the transaction.