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n Sept. 5, a five‑unit complex at 207 Knox St., Costa Mesa, sold for $5.5 million—$1.1 million per unit—setting a city record. The property, listed at $5.985 million, stayed on market 164 days and yielded $202,793 in annual NOI. Both sides were handled by the Leeson Group at Marcus & Millichap. Christian Tait noted it “established the highest price per unit ever recorded for a 5‑plus unit property in Costa Mesa.” Built in 1978 and renovated in 2022, the 8,169‑sq‑ft town‑home sits on 0.33 acre near Newport Avenue, just a block from Newport Beach. Unit D, a three‑bedroom, two‑bath unit, was listed on Zillow for $5,250/month and features a living room with fireplace, half‑bath, dining area, in‑unit laundry, and attached garage. Recent upgrades include plank flooring, quartz countertops, stainless‑steel appliances, in‑unit washers/dryers, and skylights. The location—1 mile to Newport Beach and 0.5 mile to Hoag Hospital—offers condo‑like living with strong rental upside.
Two days earlier, Garden Walk Apartments in Garden Grove sold for $12.774 million—$354,851 per unit—its first sale in over 30 years. The Leeson Group again represented both parties. The seller cash‑out after long ownership; the buyer plans renovations to boost rents. The 1963‑built complex sits on 2.4 acres west of the Outlets at Orange, with 28 single‑story and eight two‑story townhomes, and potential for accessory dwelling units. Amenities include gated access, a pool, pavilion, two on‑site laundry facilities, and carport/surface parking.
MVE + Partners earned two AIA‑OC awards: a Commendation for the unbuilt 2,250‑unit OCVibe project next to the Honda Center in Anaheim, and an Award of Merit for the built Rafferty complex in Santa Ana, which blends two mid‑rise buildings with 218 units and retail space, incorporating the historic American Tile Co. building.
This roundup is compiled from news releases and written by Business Editor Samantha Gowen. Submissions and high‑resolution photos should be emailed to [email protected]; allow at least a week for publication. All items are subject to editing for clarity and length.
