Renovated Anaheim Apartment Complex Trades for $6M
Cushman & Wakefield has brokered the sale of a newly renovated, 16-unit, garden-style multifamily community in Anaheim, CA. The property sold for $5.67 million, equaling just over $354,000 per unit and a 4.4% CAP rate. The firm’s Mark Bridge represented both buyer and seller, private investors, in the transaction.
“This asset provided an investor a great opportunity to acquire a well-maintained apartment community with major renovations having been completed,” said Bridge, Managing Director with Cushman & Wakefield’s Multifamily Advisory Group in Orange County. “This property is in a central location near major retail, educational, employment and entertainment opportunities.”
Located within a mile of Disneyland at 2070 S. Mountainview Ave., the complex consists of a single two-story building with one- and two-bedroom units. The recent upgrades include new exterior wood and paint, resurfaced decking, landscaping and a gazebo.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.