The complex consists of 10 detached single-story homes. Each of the homes has two-bedrooms, an enclosed single garage and a private yard. The complex, known as Costa del Lido, is located at 2453 Orange Ave.
The seller, an unnamed private partnership, was represented by R. Earle Weichman. Steven C. Brombal of the Newport Beach office of Hendricks & Partners acted on behalf of the buyer, Peter W. Evans of Huntington Beach.
An increased number of smaller investors have begun buying up property in the Orange County multifamily market in recent months, according to a report on the region by Marcus & Millichap Real Estate Investment Brokerage Co. The change has occurred due to a combination of attractive financing and the migration of institutional investors out of the market.
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