CBRE Facilitates $5.4M Sale Of Multifamily Properties In Huntington Beach

The multifamily property involved in the transaction is located at 321 and 317 22nd Street in Huntington Beach. The two four-unit properties were sold to a private investor for a combined price of $5,425,000. Each property sold for $2,712,500, setting a record as the highest price for a fourplex in Huntington Beach over the past two years. Built in 1972, these properties offer a mix of one-, two-, and three-bedroom units, presenting a value-add opportunity in a prime Southern California rental market due to their location near beaches, retail, dining, and entertainment.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,425,000
• Units: 8
• Price Per Unit: $678,125
• Market: Huntington Beach

The sale was facilitated by CBRE, with Executive Vice President Daniel Blackwell and First Vice President Mike O’Neill representing both the buyer and the seller. The properties' double-lot configuration opens up potential alternative asset plans. This transaction showcases the expertise and professionalism of the brokers in negotiating a deal that set a new price benchmark in Huntington Beach.