T
he Yorktown Apartments in Huntington Beach, a 18-unit complex built in 1973 and 1974, sold for $7.4 million or $411,111 per unit. The property at 7701 Yorktown Ave. had not been on the market in over 30 years, according to CBRE, which represented both the seller and buyer from Newport Beach.
The complex features one studio and 17 two-bedroom units across 15,903 square feet, including a courtyard, picnic area, and private patios or balconies. Recent improvements include new exterior paint, garage roofs, stairs, walkways, and appliances.
"This acquisition presents an opportunity to capitalize on the property's all-electric buildings and potential rental upside in a desirable Huntington Beach location," said Mike O'Neill of CBRE.
A 9,982-square-foot industrial property in Fullerton sold for $3.38 million, with plans to repurpose it as a dental laboratory. Lee & Associates represented the buyer.
In Orange, a 1,690-square-foot office building sold for $1.025 million, according to Lee & Associates. The property at 555 N. Tustin St. was originally built in 1956 and features a 0.16-acre lot.
JLL Property Management's new team, The Mixx, will manage OCVibe when it's completed in Anaheim. The 100-acre mixed-use development includes parks, plazas, restaurants, office space, and retail areas around the Honda Center.
Leah Wimberly, a principal at Pacific Wall Systems Inc., was appointed to the executive board of the Western Wall and Ceiling Contractors Association, becoming the first woman to hold the position in its 124-year history.
