Anaheim Multifamily Fetches $79M; First Sale in 50 Years

Marcus & Millichap closed the sale of Chateau de Ville, a 254-unit multifamily property in Anaheim. The asset was brought to market for the first time in more than 50 years and traded for $79,076,710 or $311,326 per unit.

“Orange County has been the tightest major rental market in California for the past three years, and this trend is projected to continue with a fourth straight year of rent growth,” said Tyler Leeson, executive managing director investments in Marcus & Millichap’s Orange County office.

Leeson and Matt Kipp, Marcus & Millichap first VP investments, represented the seller, a long-term partnership, and procured the buyer, a private investor. “As the only market in the nation to enter 2024 with Class A and Class B multifamily vacancy rates below 4%, we expect to see increasing competition for apartment assets throughout Orange County,” said Kipp.

Built in 1970 on nine acres, Chateau de Ville is a 21-building, controlled-access community with a swimming pool, clubhouse and fitness center.

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