CBRE's Dan Blackwell & Mike O’Neill Represent Buyer In $9.57M Costa Mesa Multifamily Sale

A 22-unit multifamily property located at 313 & 325 East 17th Place in Costa Mesa was sold for $9,570,000, marking its first time on the market in over 25 years. The property spans an area of 0.58 acres, achieving a price per unit of $435,000 and a cap rate of 5.10%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,570,000
• Address: 313 & 325 East 17th Place
• Market: Costa Mesa
• Units: 22
• Price Per Unit: $435,000
• Cap Rate: 5.10%
• Broker Representatives: Daniel Blackwell & Mike O’Neill - CBRE

This transaction is noted as the largest multifamily deal in the area in three years. CBRE's Daniel Blackwell and Mike O’Neill represented the Fountain Valley-based buyer in this significant transaction.