Marcus & Millichap Inc.
07/21/2026 | Press release | Distributed by Public on 07/21/2026 13:56
Marcus & Millichap Arranges $16.9M Sale of 41-Unit Multifamily Property in Costa Mesa, California
Press Releases
Marcus & Millichap Arranges $16.9M Sale of 41-Unit Multifamily Property in Costa Mesa, California
July 21, 2026
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COSTA MESA, Calif., July 21, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1990 Maple Ave., a 41-unit multifamily property in Costa Mesa, California. The property sold for $16.9 million or $412,195 per unit.
"Sundance West Apartment Homes presented a rare opportunity to acquire a low-density multifamily community in one of Orange County's most supply-constrained rental markets," said Matthew Kipp, senior managing director investments. "The property's unique concentration of two- and three-bedroom floor plans and the meaningful capital improvements completed by prior ownership, including electrical upgrades and roof replacements, attracted significant investor interest. The competitive bidding environment allowed the seller to look beyond price alone and select a buyer whose local experience provided the highest confidence in execution."
Kipp and Tyler Leeson, executive managing director investments, in Marcus & Millichap's Orange County office, had the exclusive listing to market the property on behalf of the seller, a local family, exchanging out-of-state to reduce hands-on management, and procured the buyer, a professional investor acquiring for value-add repositioning.
Built in 1962, Sundance West Apartment Homes is a 41-unit multifamily community situated on two acres in Costa Mesa. The property totals 37,205 rentable square feet and features a unit mix of one one-bedroom, one-bath, 20 two-bedroom, one-bath units and 20 three-bedroom, one-and-a-half-bath units. The buyer plans to continue renovating units to enhance the community and capitalize on future rental growth.
"Sundance West Apartment Homes presented a rare opportunity to acquire a low-density multifamily community in one of Orange County's most supply-constrained rental markets," said Matthew Kipp, senior managing director investments. "The property's unique concentration of two- and three-bedroom floor plans and the meaningful capital improvements completed by prior ownership, including electrical upgrades and roof replacements, attracted significant investor interest. The competitive bidding environment allowed the seller to look beyond price alone and select a buyer whose local experience provided the highest confidence in execution."
Kipp and Tyler Leeson, executive managing director investments, in Marcus & Millichap's Orange County office, had the exclusive listing to market the property on behalf of the seller, a local family, exchanging out-of-state to reduce hands-on management, and procured the buyer, a professional investor acquiring for value-add repositioning.
Built in 1962, Sundance West Apartment Homes is a 41-unit multifamily community situated on two acres in Costa Mesa. The property totals 37,205 rentable square feet and features a unit mix of one one-bedroom, one-bath, 20 two-bedroom, one-bath units and 20 three-bedroom, one-and-a-half-bath units. The buyer plans to continue renovating units to enhance the community and capitalize on future rental growth.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on July 21, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 21, 2026 at 19:56 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]