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Marcus & Millichap completes $16.9M sale of Costa Mesa multifamily

The 41-unit property at 1990 Maple Ave traded for about $550,000 more than its 2018 sale price.

Reported · Written up by our desk · Industry

Marcus & Millichap finalized the sale of 1990 Maple Ave., a 41-unit multifamily property in Costa Mesa, according to ConnectCRE.

The property sold for $16.9 million, or $412,195 per unit, which the outlet said is approximately $550,000 above the home’s 2018 selling price.

ConnectCRE reported that the buyer acquired the community for value-add repositioning, citing the property’s concentration of two- and three-bedroom floor plans and prior capital improvements, including electrical upgrades and roof replacements.

The outlet added that the listing was marketed by Marcus & Millichap’s Orange County office and that the seller sought out-of-state buyers to reduce hands-on management, with competitive bidding helping support the final selection.

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