July 16, 2018
Avison Young brokered the $16.35-million sale of Sundance West Apartment Homes, a 41-unit apartment community in Costa Mesa, CA. The seller was Mariman & Co., while the buyer, an unnamed Orange County-based private family investment partnership, assumed the existing loan with Chase Bank.
Built in 1965 and located at 1990 to 2002 Maple Ave., the asset features 40 two- and three-bedroom floorplans and one studio floorplan. Situated on just under two acres of land, the property includes 12 one- and two-story buildings including a separate rental office.
Avison Young’s Peter Hauser and Matt Hauser represented both parties.
“Only 10 other apartment properties have sold for over $15 million in all of Orange County this year,” says Peter Hauser. “With so few apartment complexes for sale, there is pent-up investor demand here especially for assets like Sundance West that are near the coast and are located in close proximity to large employment centers.”
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