Northmarq’s Irvine office arranges highest price per unit sale in Orange County since 2022
IRVINE, Calif. (July 11, 2024) — Northmarq’s Orange County Multifamily Investment Sales team led by Peter Hauser, senior vice president, and Matt Hauser, senior associate, arranged the $9 million sale of 2442 South Coast Highway, an 8-unit multifamily property. Located in Laguna Beach, the property sold for over $961 per foot and $1.125 million per unit, the highest price per unit transaction for a commercial Orange County multifamily property since 2022, per CoStar.
“The sale of 2442 South Coast Highway illustrates the strength and buyer demand for the coastal Orange County markets,” said Peter Hauser.
2442 South Coast Highway features fully renovated large two-bedroom floorplans averaging over 1,100 sq. ft. Most apartment homes feature 180-degree white water ocean views, while two units feature rooftop decks allowing for views up and down the coast.
The property boasts an excellent location just steps from the sand in the premier coastal destination in beautiful Southern California. Laguna Beach’s resident population enjoys the atmosphere provided by its sandy beaches, canyons and seaside hills. Several million visitors are drawn to Laguna for its world class beaches, art festivals and fine dining.
Apartment amenities include: Quartz countertops, in-home washer/dryer, Wolf ranges, sub-zero appliances, Bosch dishwashers, wine refrigerators*, rooftop decks*, fireplaces* and vinyl plank wood flooring.
*Featured in select units
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
