Marcus & Millichap Facilitates the Sale of Kenwood Place Apartments, an Eight-Unit Multifamily Property in Costa Mesa

COSTA MESA, Calif., June 18, 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 Kenwood Place Apartments, an eight-unit apartment property located in Costa Mesa, California. The asset sold for $3,450,000.

“After completing an in-depth marketing campaign, the team procured an all-cash buyer who was attracted to the single-story construction, high-end unit interiors and irreplaceable Costa Mesa location,” said Tyler Leeson, executive managing director investments in Marcus & Millichap’s Orange County office. "The property went under contract within two weeks of hitting the market and featured very strong terms including a 10-day due diligence period, and a closing date within three weeks." Leeson, along with Matthew J. Kipp, first vice president investments in the firm’s Orange County office had the exclusive listing to market the property on behalf of the seller, 1762 Kenwood Place, LLC. The buyer, an individual/personal trust, was also procured by Leeson and Kipp.

Kenwood Place Apartments is located at 1762 Kenwood Place in Costa Mesa, California. With an attractive mix of one and two-bedroom floor plans, this property is home to single-story construction only. Property amenities include ample carport and surface parking, as well as an on-site laundry facility. Additionally, all units have received substantial renovations consisting of vinyl flooring, dual-pane windows, shaker-style cabinetry and more. Residents are conveniently located near State Route 55, Pacific Coast Highway and an abundance of dining and entertainment options at Triangle Square.

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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.