MARCUS & MILLICHAP ARRANGES $10.55M MULTIFAMILY SALE

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NEWPORT BEACH, CALIF. — Michael Lawrence and Joseph Berkson of Marcus & Millichap’s Newport Beach office represented the undisclosed seller in the disposition of Las Casitas Garden Apartments in Newport Beach. A Northern California-based private investor purchased the 52-unit property for $10.55 million or $202,885 per unit. Located at 20102 Southwest Birch St., the 45,938-square-foot property consists of five two-story buildings. Community amenities include a swimming pool with sundeck, ample parking, on-site laundry facilities and a well-equipped fitness center. Kevin Struve and Eric Chen of Marcus & Millichap’s Ontario, Calif., office represented the seller in the transaction.

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