Costa Mesa Apartments Achieve High Price Per Unit

Costa Mesa Apartments Achieve High Price Per Unit
News| June 10, 2025| Paul Bubny
California & West + Apartment Buildings

CBRE finalized the sale of a 13-unit multifamily property at 553 and 555 Victoria St. in Costa Mesa. The transaction closed at $8.6 million, reportedly the highest price per unit achieved for a multifamily property in Westside Costa Mesa over the past 18 months.

EVP Dan Blackwell, SVP Mike O’Neill and associate Jack O’Connor represented the Costa Mesa-based private seller, a repeat client. The buyer is a private investor based in Huntington Beach.

“This transaction underscores the continued strong demand for well-located multifamily assets in Westside Costa Mesa,” said Blackwell. “Leveraging our market knowledge and investor network, we generated significant interest and achieved a record price per unit for our client. The deal was creatively structured with seller financing, which was key to unlocking a strong sales price and achieving this record-breaking outcome for our client.”

The property was on the market for the first time in more than 47 years.

Be there on June 18 when CBRE president, Greater LA, OC & Inland Empire Lew Horne provides a Los Angeles Market Update and conducts a one-on-one interview with Rick Caruso during the 9th Annual Connect Los Angeles 2025, June 18 at the Intercontinental Los Angeles Downtown. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else.

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