ORANGE COUNTY, CA— Matthews™, a commercial real estate investment services and technology firm, completed the sale of a 13-unit apartment building, located at 222 Arch St in Laguna Beach, California. Matthews™ Executive Vice President & Senior Directors Mark Bridge and Daniel Withers represented the seller in the $10,425,000 transaction, which marks the highest sale price for a multifamily sale in the South County submarket within the last two years.

 

Positioned just 300 feet from Arch Beach, each unit features ocean views, private balconies, in-unit stacked washer and dryers, and individual roll-up garage parking. The 12,300-square-foot property underwent capital improvements in 2017, including new granite countertops, custom cabinetry, fresh flooring, new bathroom tile, vanities, and lighting, a full stainless-steel appliance package, double-pane vinyl windows, and a new roof in 2024. Given the high-barrier-to-entry market, the seller, the Cohen Family Trust, elected to bring the property to market as part of a capital relocation strategy.

 

Matthews™ structured a competitive bidding environment, generating nearly 10 offers, ultimately securing a buyer completing a 1031 exchange. Modern Development Company, a California LP, was attracted to the asset’s long-term appreciation potential and prime coastal positioning. The Matthews™ agents leveraged their market acumen and maintained consistent communication to proactively structure a path that created a favorable outcome for the seller while also meeting the buyer’s strategic objectives.

 

“Assets of this caliber don’t come to market often in Laguna Beach, but when they do, the demand speaks for itself,” Bridge said. “Our longstanding relationships in the market allowed us to set a new benchmark for pricing in South County and achieve a fantastic result for our client.”

 

For more information, please contact Mark Bridge and Daniel Withers or visit www.matthews.com.

 

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.