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California  + Orange County  + Apartments  | 

Fourth Sale Closes in Anaheim Multifamily Portfolio

Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit.

“This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange strategy,” said Nick Kazemi, managing director investments. “The property sold for more than 99% of the asking price, with an extended escrow period to accommodate the seller’s exchange. The buyer plans to renovate unit interiors and make property improvements to increase rental income.”

Kazemi, Tyler Leeson and Matt Kipp, of Marcus & Millichap’s Orange County office, and Drew Holden, of the firm’s Las Vegas office, marketed the property on behalf of the seller, a family that had owned and operated the property for more than 30 years, and procured the buyer, a Southern California-based property management company.

Read More News Stories About: Marcus & Millichap
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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 19-plus years’ experience covering the commercial real estate industry and 35-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 11-15 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).

  • ◦Sale/Acquisition
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