SANTA MARIA, CALIF. — MBK Rental Living has completed the sale of Azure, a multifamily property in the Central Coast city of Santa Monica. Terms of the transaction were not released.
Developed in MBK Rental Living and opened in September 2020, Azure features 318 one-, two- and three-bedroom units ranging in size from 406 square feet to 1,211 square feet.
The units feature open floor plans with vaulted ceilings, wood-style flooring, wall-controlled ceiling fans, gas ranges, stainless steel appliances, quartz countertops, closets with built-in shelves and covered patios with storage rooms. Community amenities include a modern farmhouse-style clubhouse with an entertainment kitchen; two resort-style swimming pools surrounded by cabanas and a firepit; two spas; traditional and Santa Maria-style barbecue grills; a 24-hour fitness center; futsal sports court; Tesla charging stations; two playgrounds; a dog park; pet spa; and business center.
Azure is situated on 14 acres at 703 E. Meehan St.
Kevin Green, Joseph Grabiec and Greg Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the deal.