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New Luxury Buena Park Apartments Sold for Record
Parkview Apartment Homes, a 22-unit apartment property in Buena Park, CA, was acquired for $9.2 million. Covina, CA-based Cameron Properties Inc. purchased the property from Brandywine Homes, which was also the developer of the property.
The closing cap rate was 3.96% and the price-per-unit was just over $417,000, representing a record price-per-unit for the area.
The 21,524-square foot apartment complex, located at 6785 Knott Ave., was completed in 2014 and contains luxury two-bedroom/two-bathroom apartments, the majority of which are townhomes.
Avison Young’s Peter Hauser and Matthew Hauser represented the buyer. CBRE’s Dan Blackwell advised the seller.
Blackwell says, “New construction properties such as this one rarely trade in this market. These newer buildings rent at a premium, and result in above-average pricing metrics.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




