Anaheim Deal Represents Investor’s First Multifamily Buy Since 1993

Marcus & Millichap arranged the sale of Nine-Eighteen Apartments, a 32-unit multifamily property in Anaheim. The property sold for $7.1 million, or $221,875 per unit.

“Nine-Eighteen Apartments presented a compelling opportunity to acquire a well-located multifamily asset with scale and long-term upside in the Anaheim market,” said Tyler Leeson, executive managing director investments. “The property’s strong fundamentals helped drive a successful all-cash transaction that closed within 30 days at nearly 99% of the asking price.”

Leeson, Matt Kipp, Nick Kazemi and Drew Holden, investment specialists with Marcus & Millichap, marketed the property on behalf of the seller. Leeson, Kipp, Kazemi, Holden and Joe Berkson procured the buyer.

Built in 1975, Nine-Eighteen Apartments is located at 918 W. Romneya Dr. and consists of 32 units totaling 25,007 rentable square feet on 0.87 acres. The buyer, making its first multifamily acquisition since 1993, plans to maximize income while holding the property as a long-term investment.

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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).

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◦Sale/Acquisition

14065 Moorpark St
Los Angeles, CACalifornia & West + Apartment Buildings
Listing Status: Available
Price: $7,490,000
No. of Units: 30
Cap Rate: 5.13
GRM/GIM: 11.39
Year Built: 1956
Building Size: 20182 Sq ft
Lot Size: 0.55 Acres
Opportunity Zone: No
Price per unit: $249,666
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Casa Serena Apartments

Indio, CACalifornia & West + Apartment Buildings

Listing Status:	Available
Price:	$8,400,000
No. of Units:	51
Cap Rate:	6.61
GRM/GIM:	9.13
Year Built:	1982
Building Size:	29376 Sq ft
Lot Size:	106286 Acres
No. of Stories:	1
APN:	612-064-001 to 612-064-052
Opportunity Zone:	No
Price per unit:	$164,705