Townhome Complex Notches One of Anaheim’s Highest Per-Unit Prices
CBRE closed the sale of a 14-unit multifamily community in Anaheim to a private investor for $5.9 million, representing one of the highest prices per unit in the city. EVP Dan Blackwell represented the buyer and seller.
Located at 129 S. Olive St., the property was built in 1986 on approximately 15,517 square feet and features all two-bedroom/two-bathroom townhome-style floor plans with vaulted ceilings, central air, patios and balconies. It was recently renovated, including new paint and the replacement of the exterior wood.
“This a rare, pride-of-ownership asset in an amenity-rich, walkable neighborhood that is highly sought-after,” said Blackwell. “Our team had helped the seller of 129 S. Olive St. acquire the asset a couple of years ago and guided the investor from the acquisition of the property to the exit. We secured an all-cash buyer through our multifamily investor network and the property was under contract before it was placed on the market for sale. The closing represents a sales price of $421,000 per unit.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-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 15-20 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).