Northmarq brokers $13M sale of Newport Harbor apartments, part of $51.795M Orange County exchange

NEWPORT BEACH, Calif. — Northmarq’s Irvine-based Investment Sales team of Peter Hauser, Jordan Hauser and Matt Hauser completed the $13.045 million sale of Newport Harbor, a 20-unit, garden-style multifamily community located at 1601 and 1801 East 15th Street in Newport Beach, California.

Northmarq represented the seller, Newport Harbor Investors LLC. The buyer was a Los Angeles-based partnership.

The Newport Harbor sale was the final transaction portion to complete a total $51.795 million exchange.

“We have worked successfully over the years with the seller’s managing members CKF Partners Chris Fletcher and Anna Fletcher, and we were honored to represent them in this transaction,” said Peter Hauser.

CKF Partners is a value-add real estate investment firm with a portfolio of over 2,000 multifamily units and is actively seeking new acquisition opportunities.

Built in 1975, Newport Harbor comprises four apartment buildings with central courtyards and walk-up access. The property has undergone a full renovation on 14 of the 20 units, including vinyl-plank flooring, new cabinets, stainless steel appliances, recessed lighting, quartz countertops and fully upgraded bathrooms.

Newport Harbor is ideally located within one mile of Newport Harbor Marina and in close proximity to the beach, offering residents convenient access to coastal amenities and lifestyle.