Shovel-Ready Santa Ana Development Site Sells to Local Buyer

CBRE closed the sale of a 0.29-acre development site, fully entitled for 15 apartment homes near Downtown Santa Ana, to a private investor for $1.16 million. Senior associate Michelle Jefcoat and EVP Dan Blackwell represented the seller, an Orange County-based private investor, in the non-exchange transaction. The buyer was also based in Orange County.

“The buyer was drawn to the strategic location of this fully entitled property, situated in an opportunity zone and less than a mile from Downtown Santa Ana,” said Jefcoat. “Additionally, our efficient process ensured a seamless transaction, culminating in an all-cash purchase that closed within 28 days. Given the property’s prior listing with another brokerage firm, our client expressed immense satisfaction with our team’s ability to facilitate a successful sale.”

The “shovel-ready” development, currently named 4G Lofts, is situated at 1212 E. 4th St., near the intersection of North Grand Avenue. The plans for 4G Lofts feature studio units and one- and two-bedroom units, with one apartment home designated as “very low affordable.” The development will include 17 parking spaces.

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