Hankey Investment Company Acquires Multifamily Property In Koreatown And Costa Mesa For $113.5M

The multifamily property located at 687 S. Hobart Boulevard and 125 E. Baker Street in Koreatown, Costa Mesa, was recently sold in a closed transaction on December 18, 2019. This property consists of 586 units and spans a total of 215,000 square feet. The sale price for this transaction was $113,500,000, resulting in a price per unit of $193,686 and a price per square foot of $527.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $113,500,000
• Units: 586
• Price Per Unit: $193,686
• Square Footage: 215,000
• Price Per Square Foot: $527

The seller of this property was Cityview, represented by Sean Burton. On the other hand, the buyer was Hankey Investment Company, represented by Don Hankey.