Adagio Apartments is a 349-unit complex made up of one- and two-bedroom units with an average rent of $1,125 a month. Built in 1974, the complex, located at 3124 S. Main St., has been renovated within the past 18 months at a cost of $20,000 per unit.
On the border of Santa Ana and Costa Mesa, the South Coast Metro area of Orange County is a strategic location for both commercial and retail properties. The complex is in close proximity to 10 million sf of new commercial development and a mixed-use apartment/retail project currently under construction across the street.
Joe Leon, Ray Eldridge, SVPs, and Associate Chris Knowles all of CB Richard Ellis' Newport Beach office represented the seller. The buyer represented itself in the transaction.
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