Chris Keramati Closes $50 Million in Orange County
Triqor Group’s Managing Partner, Chris Keramati, just closed two transactions totaling over $51M in Orange County. He represented both buyer and seller for both transactions.
The first, Beach West Apartments, is a 54-unit turn-key apartment community in the city of Westminster composed of majority 2-bedroom units. Most of the units are upgraded with new flooring, stainless steel appliances, new paint, new windows, and granite countertops. This property is conveniently located blocks away from the Westminster Mall, and a short drive from the Bella Terra Shopping Center. This building sold for $18.97M, which comes out to over $350k per unit. This is the highest priced sale in the city of Westminster since January of 2021.
The second property, Vine-Fullerton Apartments, is composed of 98-units and is situated on a 2.5-acre lot. The property is approximately 2:1 parked and equipped with amenities such as a gym, rental office, pool, laundry facility, and dog park. Keramati was able to quickly generate multiple offers and finalize a price of $32.3M with a quick, all-cash, 17-day close. This transaction currently stands as the largest apartment community sold in Fullerton in 2022, and is the highest price per sq. ft. achieved in the 92833-zip code.
Keramati managed to close both properties well over seller expectations and within 98.9% of their combined listing price.