COSTA MESA, CALIF. — CBRE has arranged the sale of Crestview Apartments, a 19-unit property in Costa Mesa. Crestview Apartments was built in 1957 on 0.5 acres. Dan Blackwell and Mike O’Neill represented the seller in the deal. Blackwell and O’Neill, along with Jack O’Connor, also represented the buyer. Both parties were Orange County-based private investors.
Crestview Apartments rises two stories and comprises one 8,931-square-foot building. The value-add property includes in-place RUBS (Ratio Utility Billing System), where tenants pay for water and trash, in addition to being individually metered for electricity and master metered for gas. Crestview Apartments was recently renovated with new exterior paint, decks and windows, as well as repaved asphalt and wood replacement.