CBRE Arranges Sales of Three Fourplexes in OC

CBRE arranged the sales of three four-unit multifamily properties in Orange County for a total of $5.48 million to three separate private buyers in 10 days. EVP Dan Blackwell and associate Amanda Fielder represented the sellers in all three deals.

In the first transaction, Blackwell and Fielder represented an out-of-state private investor in the sale of a four-unit multifamily property at 609 S. Cypress St. in Orange. The sale price was $1.78 million, representing $75,000 over the asking price. The buyer was a private investor based in Orange County.

Blackwell and Fielder also arranged the $1.7-million sale of a four-unit multifamily property at 405 Nobel Ave. in Santa Ana. The buyer and seller were private investors based in Orange County.

Finally, the duo arranged an off-market transaction for a 1031 exchange buyer in the purchase of a four-unit multifamily property at 143 W. Canada in San Clemente. The sale price was $2 million. Both buyer and seller were Orange County-based private investors.

“The fourplex multifamily market is extremely active and competitive right now and, due to a low inventory of quality assets, buyers are competing to get their hands on good opportunities,” said Fielder.