Northmarq Team of Peter Hauser, Matt Hauser & Jordan Hauser Represent CKF Partners in the $13.5M Sale of Newport Harbor Apartments
SOLD
$13,045,000
California
See Similar DealsMultiFamily15,080 SF
Sold
SOLD
Northmarq Team of Peter Hauser, Matt Hauser & Jordan Hauser Represent CKF Partners in the $13.5M Sale of Newport Harbor Apartments
1601 East 15th Street
See Similar DealsMultiFamily15,080 SF
Sold
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$865
Total Square Footage:15080 SF
Transaction Type:Sale
The multifamily asset located at 1601 East 15th Street in Newport Beach has a sale price of $13,045,000. The property consists of 20 units, totaling 15,080 square feet, which equates to a price per unit of $652,250 and a price per square foot of $865.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,045,000
- Units: 20
- Square Footage: 15,080
- Price Per Unit: $652,250
- Price Per Square Foot: $865
- Seller: Chris Fletcher & Anna Fletcher - CKF Partners
- Seller's Representative: Peter Hauser, Matt Hauser & Jordan Hauser - NorthMarq
- Date of Sale: 09/16/2025
- Market: Newport Beach
This transaction was part of a total exchange execution within Orange County amounting to $51,795,000, highlighting the broader context of property dealings in the region.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$695,733.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,346.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,839.96
Annual Debt Service$742,079.46
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