Rick Applebaum of Morgan Skenderian's Newport Beach office, who represented the buyer, tells GlobeSt.com that the 18-unit property at 7285 Ninth St., with 10 one-bedrooms and eight two-bedroom units, was built in 1969. And, he adds, Windsor Manor Apartments were in good condition as a result of excellent maintenance over the years. The units average approximately 814 sf and rent for $775 to $790 per month for the one-bedrooms and $850 to $910 for the two-bedroom units.
Two units were empty at the time of the sale, in which two private individuals from Costa Mesa bought the two-story, wood frame building from Windsor Manor Apartments LLC of Buena Park. The seller was represented by Jonathan Mitchell of Marcus & Millichap.
In the Dana Point transaction, a San Diego-based family trust bought the eight-unit building at 33901 Malaga Dr. from two private individuals based in Long Beach, with Applebaum representing the buyer and the seller. The mix includes two studios, two one-bedrooms and the rest, two-bedroom units.
The two-story, wood frame and stucco property, which was built in 1974, was fully occupied at the time of the sale. The units average nearly 640 sf, with monthly rents of $775 for the studios; $900 to $925 for the one-bedrooms; and $1,075 to $1,200 for the two-bedroom units.
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