California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CBRE’s Dan Blackwell Closes Garden Grove Sale for Repeat Client
CBRE arranged the sale of an eight-unit multifamily property located at 10651 Tibbs Cir. in Garden Grove to a private investor for $2,225,000. The selling price represents $278,125 per unit and more than $438 per square foot.
EVP Dan Blackwell represented the seller, a repeat client based in Los Angeles. The buyer was from Orange County.
“Our exclusive marketing process generated multiple competitive offers for this stabilized asset and sold at 97% of the asking price, reflecting the continuing demand for well-located multifamily properties in Orange County,” said Blackwell. “The property features seven one-bedroom units and one two-bedroom unit. All of the units were recently renovated, which was very appealing to the buyer.”
He added, “We have worked with this repeat client for many years and our team is currently marketing for sale another eight-unit multifamily property in Garden Grove and is representing the client in the purchase of 32 units in Bellflower and 10 units in Fullerton.”
- ◦Sale/Acquisition
