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Newport Beach Trust Pays $2.9M for Complex

COSTA MESA, CA-The Sam Ayoub Trust acquires the 24-unit La Costa apartment community, which is located at 354 Avocado St. Smaller properties like La Costa have become a favorite among private investors in recent years, according to industry experts.

By Erin Cassin | Updated on July 29, 2002

COSTA MESA, CA-A 24-unit apartment community in Costa Mesa has been acquired by a Newport Beach-based trust, the latest example of how small-sized multifamily product has become a favorite with private investors in recent years.

The Costa Mesa property, known as La Costa, has been purchased by the Sam Ayoub Trust for $2.9 million. The complex is located at 354 Avocado St.

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