A 56-unit multifamily property built in 1973 sits on 2.35 acres located at 1251 N. Placentia Ave. in Anaheim. The two-story asset recently sold for $15.6 million to a private investor.
CBRE’s Dan Blackwell represented the buyer and seller, a local private investor, in the transaction.
“Our team was able to source a qualified buyer who closed at a sale price representing $279,000 per unit or $395 per-square-foot,” said Blackwell. “The buyer took advantage of the attractive lending terms in the market and obtained 2.5 percent fixed financing for seven years with a 35 percent down payment.”
Including this latest acquisition, Blackwell and his team helped the buyer assemble an 84-unit multifamily portfolio valued at more than $24 million. This was the team’s 80th Anaheim sale.
“The Orange County market is very competitive right now, and we are working with many property investors on both on- and off-market opportunities to help execute multifamily trades,” said Blackwell.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.