12/26/2008

Hendricks & Partners sells Newport Beach apartments for $1.55M

by
JP Residential, LP has sold the Domingo Villas in Newport Beach, Calif., for $1.55 million to locally-based THBK, LLC.

Hendricks & Partners' Steven Brombal handled the negotiations for both parties in the transaction.

The multi-family property contains six units and is located at 801 Domingo Drive. It sold for $258,333 per unit with a 4.97 percent capitalization rate.

Steven C. Brombal has listed and sold more than 1,250 units in the Newport Beach/Costa Mesa apartment submarket and specializes in the Orange County apartment marketplace.

Address: 801 Domingo Drive, Newport Beach, Calif.

Size: Six units

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Filed Under: Multi-Family

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