Press Releases
Marcus & Millichap Facilitates the Sale of a Six-Unit Multifamily property in Hawaiian Gardens, California
March 25, 2024
HAWAIIAN GARDENS, Calif., March 25, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 21929 South Verne Avenue, Hawaiian Gardens, California, a six-unit apartment property located in Hawaiian Gardens, California. The asset sold for $1,580,000.
“I had a repeat client in a 1031-exchange looking to expand their apartment portfolio. Nick Kazemi and Matthew Kipp in the Orange County office also had a client who was looking to sell their building and enter a 1031-exchange of their own,” said Christian Tait, senior investment associate in Marcus & Millichap’s Orange County office. “We were able to put the deal together, help source the financing, and help both the buyer and seller achieve their 1031-exchange needs. It was a great team effort with fantastic results all around! This was also the only five-plus unit transaction in Hawaiian Gardens in the past two-and-a-half years.” Tait, along with Matthew J. Kipp, first vice president investments, and Tyler Leeson, executive managing director investments in the firm’s Orange Country secured the buyer, Lynn.
Built in 1974, this multifamily property is located at 21929 South Verne Avenue in Hawaiian Gardens, California. It is home to one 2-bedroom/1-bath townhome, four 2-bedroom/1-bathroom units, and one 1-bedroom/1-bath unit.
“I had a repeat client in a 1031-exchange looking to expand their apartment portfolio. Nick Kazemi and Matthew Kipp in the Orange County office also had a client who was looking to sell their building and enter a 1031-exchange of their own,” said Christian Tait, senior investment associate in Marcus & Millichap’s Orange County office. “We were able to put the deal together, help source the financing, and help both the buyer and seller achieve their 1031-exchange needs. It was a great team effort with fantastic results all around! This was also the only five-plus unit transaction in Hawaiian Gardens in the past two-and-a-half years.” Tait, along with Matthew J. Kipp, first vice president investments, and Tyler Leeson, executive managing director investments in the firm’s Orange Country secured the buyer, Lynn.
Built in 1974, this multifamily property is located at 21929 South Verne Avenue in Hawaiian Gardens, California. It is home to one 2-bedroom/1-bath townhome, four 2-bedroom/1-bathroom units, and one 1-bedroom/1-bath unit.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
