Located in the prime market of Costa Mesa, just a few miles from the Pacific Ocean, Chris Pettit of Triqor Group proudly announces the portfolio sale of five triplexes, totaling 15 units on Coolidge Avenue and Filmore Way.
Consisting of mostly two bedroom and 1.5 bathroom townhomes, the property was sold to a private investor whom quickly realized the exceptional potential in owning five triplexes that can bring significant return over the life of the investment by turning around each property at market value once it is owned free of the lease, which will provide a worthwhile return for the holding period.
“It was a great opportunity for both the buyer and seller as they each were able to achieve their goals. The seller received a high price that seemed unachievable due to the current cash flow, while the buyer recognized an opportunity with significant upside potential,” explains Pettit.
Sold for $2,770,000 with a cap rate of 1.7%, the Coolidge and Filmore Portfolio demonstrates a wise transaction for all parties.