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CBRE Facilitates Sale Of 14-Unit Multifamily Properties In Garden Grove For $3.3M

Property Image
SOLD
$3,310,000
Daniel (Dan) Blackwell
Andrew Boukather

California

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MultiFamily
Sold 10/17/2023
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Property Image
SOLD

CBRE Facilitates Sale Of 14-Unit Multifamily Properties In Garden Grove For $3.3M

10772 Palma Vista Avenue & 10761 Palma Vista Avenue

See Similar Deals
MultiFamily
Sold 10/17/2023
Daniel (Dan) Blackwell
Andrew Boukather
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

An eight-unit multifamily property located at 10772 Palma Vista Avenue in Garden Grove has been sold for $1.87 million as part of a value-add opportunity. Situated on a 0.45-acre plot, this property presents strong rental demand and growth potential. The buyer will benefit from the promising characteristics of this multifamily asset.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $1.87 million
  • Address: 10772 Palma Vista Avenue, Garden Grove
  • Market: Garden Grove
  • Acres: 0.45

The successful negotiation and facilitation of this Garden Grove transaction were led by the reputable brokers, Andrew Boukather and Dan Blackwell of CBRE. They played a pivotal role in connecting the buyer and seller, ensuring a smooth transaction. The combined efforts of CBRE and the brokers involved contributed to the overall success of this multifamily property sale.

Players

Daniel (Dan) Blackwell
CBRE
Daniel Blackwell
61 deals$439.4M volume(949) 725-8655
BROKER
Andrew Boukather
MBI Equity Partners
Andrew Boukather
11 deals$64.5M volume(949) 809-3629
BROKER

Details

SOLD
IMAGE: Dan Blackwell & Andrew Boukather DATE: 10/17/2023 ADDRESS: 10772 Palma Vista Avenue & 10761 Palma Vista Avenue MARKET: Garden Grove ASSET TYPE: Multifamily ~ ACRES: 0.45 BROKERS: Andrew Boukather & Dan Blackwell (@MultifamilySocal) - CBRE (@CBRE) SALE PRICE: $3,310,000 UNITS: 14 ~ PPU: $236,429 NOTE: CBRE facilitated the sale of two Garden Grove multifamily properties totaling 14 units for a combined $3.3 million. An eight-unit property on Palma Vista Avenue sold for $1.87 million, and a six-unit property across the street sold for $1.44 million, both representing value-add opportunities with strong rental demand and growth potential.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$176,533.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,759.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,691.09
Annual Debt Service$188,293.06