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CBRE Arranges Sales of Neighboring Garden Grove Properties
CBRE arranged the sale of two multifamily rental communities located on the same street near the major thoroughfare of Euclid Street and Katella Avenue in Garden Grove. The transactions involved two buyers and sellers and encompassed a total of 14 units, with a combined value of $3.3 million.
In the first transaction, EVP Dan Blackwell and senior associate Andrew Boukather represented both the buyer and seller in the sale of an eight-unit multifamily property at 10772 Palma Vista Ave. The sale price was $1.87 million, equating to $233,125 per unit and $383 per square foot. The buyer was a private investor from Los Angeles County and the seller was based in San Diego County.
In the second transaction, Blackwell and Boukather represented the buyer in the sale of a six-unit multifamily property located directly across the street at 10761 Palma Vista Ave. The sale price was $1.44 million, representing $240,000 per unit and $380 per square foot. The seller was a private investor based in Orange County, while the buyer was a repeat client from Newport Beach.
- ◦Sale/Acquisition
