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California  + Orange County  + Apartments  | 

CBRE Team Sells Santa Ana Property for the Fourth Time

CBRE arranged the sale of a newly renovated, nine-unit multifamily property located at 425 E. Wellington Ave. in Santa Ana to a local buyer for $3,105,000. The sale price represents $345,000 per unit and $590 per square foot, reportedly the highest price per square foot for a Santa Ana multifamily property and the highest per-unit price for a multifamily property in the city since April 2023.

EVP Dan Blackwell, senior associate George Felix and associate Amanda Fielder represented the repeat seller based in Tennessee. The buyer was based in Orange County.

“Our comprehensive marketing process generated multiple competitive offers and tours, and we closed escrow at 98% of the asking price for this turnkey asset ideally situated in the highly desirable French Park District,” said Blackwell.

This represents the fourth time the CBRE Multifamily SoCal team has sold this property. The team most recently sold it in December 2020 to the current sellers.

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CBRE's Blackwell

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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