Northmarq’s Irvine office arranges $102.9 million sale of Nineteen01 Apartments

Irvine, Calif. (Sept. 22, 2023) — Northmarq’s Shane Shafer, managing director, arranged the $102.9 million sale of Nineteen01 Apartments, a 264-unit Class A multifamily property. Built in 2016, Nineteen01 is located at 1901 East 1st St. in the North Santa Ana submarket. 

“The Nineteen01 listing was a highly sought after property that generated tremendous interest, due to its great location and asset quality,” said Shafer. “This sale shows the continued interest in the Orange County market for large core properties that provide investors great fundamentals and expected consistent returns.” 

Nineteen01 Apartments offers one-, two- and three-bedroom apartments with desirable amenities such as a rooftop deck, resort-style pool and spa and a state-of-the-art fitness center. The five- and three-story building is situated on 5.18 acres in the Tustin-adjacent area of Santa Ana. Residents enjoy short drives to Downtown Santa Ana’s Historic District and Fourth Street and world-class shopping at South Coast Plaza. The property boasts an excellent location near I-5 and 55 freeways for access to major employment and entertainment centers of Orange County, Los Angeles and the Inland Empire. In addition to a great location less than a mile west of Tustin, Nineteen01 is part of the reputable Tustin Unified School District.

Apartment amenities include: Quartz and marble countertops, full-size in-home washer/dryer, energy-efficient appliances, private patio/deck, vaulted ceilings, faux hardwood floors, walk-in closets, pendant and recessed lighting and in-wall USB charging stations. Community amenities include: Resort-style rooftop pool deck with spa, poolside cabanas, outdoor media salon, rooftop fitness center, game room, professional conference room, package receiving room, ground floor retail, dog park and pet spa.