Brombal, who is based in the Newport Beach office of Hendricks & Partners, reports that the 19-unit Marbella apartment complex at 145 E. 18th St. was originally on the market for $3.6 million, but the property got no serious takers at that price, which Brombal says could not be achieved because of the age and condition of the property. Brombal represented the buyer, whose $2.9 million offer included an $85,000 credit for deferred maintenance. The buyer plans to reposition the property through renovations and improvements, Brombal notes.

The property includes a front building that was constructed in 1959 as a three-unit office and retail building and later converted to apartments when the other 16 units were constructed in the early 1960s. The 19 units include five one-bedrooms renting for $875; six two-bedrooms renting for $925 to $1,075; seven two-bedroom townhouse style units renting for $1,125 to $1,295; and one legal studio renting for $775. The seller was represented by Rob Giem of Coast Newport Properties.

The $1.6 million property was an eight-unit complex at 142 Melody Lane, which includes all two-bedroom, 1.5-bathroom townhouse style units that rent for $1,000 to $1,400. Brombal represented the buyer and the seller, both of them local private investors.