CBRE announced the sale of a 14-unit multifamily community in Anaheim, Calif., to a private investor for $5.9 million, marking one of the highest prices per unit sale in the city of Anaheim.
CBRE’s Executive Vice President Dan Blackwell represented the buyer and seller in this transaction.
The property, located at 129 S. Olive Street, sits in the prime area of Downtown Anaheim and is steps away from the Anaheim Packing District. It was built in 1986 on approximately 15,517 square feet and features all two-bedroom/two-bathroom townhome-style floor plans with vaulted ceilings, central air, patios and balconies. The property had recently been renovated, including new paint and the replacement of the exterior wood.
“This a rare, pride of ownership asset in an amenity-rich, walkable neighborhood that is highly sought-after,” said Blackwell.
“Our team had helped the seller of 129 S. Olive Street acquire the asset a couple of years ago and guided the investor from the acquisition of the property to the exit,” said Blackwell. “We secured an all-cash buyer through our multifamily investor network and the property was under contract before it was placed on the market for sale. The closing represents a sales price of $421,000 per unit.”
Blackwell and his team remain very active within the Anaheim multifamily market. This sale marks the Multifamily SoCal Team’s 89th Anaheim closing.
