CBRE Sells Development Site In Santa Ana To Orange County Buyer For $1.2M

The sale involved a fully entitled multifamily development site located at 1212 East 4th Street in Santa Ana. The property, known as 4G Lofts, is shovel-ready and fully entitled for 15 studios, one- and two-bedroom apartments, including one affordable unit for very-low-income residents, along with 17 parking spaces. The transaction was facilitated by CBRE, with Michelle Jefcoat and Dan Blackwell representing the seller. The asset was sold to an Orange County-based buyer for $1,200,000.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $1,200,000
• Address: 1212 East 4th Street, Santa Ana
• Market: Santa Ana
• Asset Type: Development Site
• Size: 0.29 Acres
• Brokers: Daniel Blackwell & Michelle Jefcoat - CBRE

The deal was executed with a private seller vending the asset to the buyer. The property, 4G Lofts, demonstrates a promising development opportunity. CBRE's involvement highlights the expertise of Michelle Jefcoat and Dan Blackwell in representing the seller throughout the transaction, showcasing their proficiency in real estate negotiations.