Newport Beach Private Buyer Acquires 18-Unit Yorktown Apartments In Huntington Beach For $7.4M

The Yorktown Apartments, located at 7701 West Yorktown Avenue in Huntington Beach, has been sold for $7,400,000. This multifamily asset spans 15,903 square feet and comprises 18 units, with a price per unit of $411,111, and a price per square foot of $465. The transaction reflects the property's first sale in over 30 years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,400,000
• Address: 7701 West Yorktown Avenue
• Market: Huntington Beach
• Acres: 0.7
• Units: 18
• Price per Unit: $411,111
• Square Footage: 15,903
• Price per Square Foot: $465
• Cap Rate: 4.5%
• Rent Upside: 9%
• List Price Percentage: 97%

Daniel Blackwell and Mike O’Neill of CBRE represented both the seller, also from Newport Beach, who participated in a 1031 exchange, and the buyer in this all-cash transaction.