CBRE closed the sale of a seven-unit multifamily property in Anaheim to a private investor for $2,525,000. The selling price represents $360,714 per unit and $388 per square foot.
EVP Dan Blackwell and associate Amanda Fielder represented the non-exchange buyer, who was based in Orange County. The seller was from Alameda County. The sale was the 94th in Anaheim for the CBRE team.
“Based on our client’s financial goals, we sourced a great multifamily investment opportunity situated in the desirable Colony neighborhood of Anaheim, secured the winning bid over multiple competitive offers and negotiated favorable seller financing for the buyer,” said Blackwell. “We negotiated a 14-day due diligence period with a 50-day close and seller financing for five years.”
Built in 1985, the 6,500-square-foot apartment building is located at 406 E. South St. on a 9,148-square-foot lot near South Olive and East South streets. The apartment community features individual patios, garage parking and a newly installed fire sprinkler system.
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