CBRE Multifamily Arranges Sale of 32-Unit Multifamily Property in Orange County for $195K Per Unit

A 32-unit multifamily property in Anaheim was recently acquired by a local investor for $6.21 mil, or about $195k/unit. The all-cash, off-market transaction was part of a 1031 exchange for the buyer, who was represented by CBRE’s Dan Blackwell and Sean Farag.

This transaction marks the third Anaheim property this buyer has acquired through the team.  

“We were able to negotiate competitive terms for this buyer to be awarded the deal. The transaction closed in 45 days and the buyer was able to complete his 1031 exchange."

“Investor interest in Orange County multifamily properties continues to be extremely strong, and Anaheim is a focal point for many looking to own property in the region,” said Blackwell. "This sale marks the 65th transaction our team has sold in Anaheim."

"Property values have continued to climb due to a shortage of inventory and the ongoing expansion of the renter pool in this area, and despite some headwinds due to rent control laws, this year has been extremely strong, and we anticipate demand to remain solid in 2020.”

Built in 1960, the apartment complex consists of four buildings on four contiguous parcels. The property features a unit mix of 24 one-bedroom/one-bath units and eight two-bedroom/one-bath units and sits in a prime rental market of Anaheim, near the Disney Resort, at 1569, 1575... Read More: OC Register & RenTV