CBRE Facilitates $10.025M Sale Of Multifamily Community In Westminster

The transaction involved the sale of a 30-unit multifamily community located at 13812 La Pat Place in Westminster, Calif. The property spans 0.89 acres with a total square footage of 21,416. The sale price was $10,025,000, equating to a price per unit of $334,167 and a price per square foot of $468.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,025,000
• Units: 30
• Price Per Unit: $334,167
• Market: Westminster
• Brokers: Amanda Fielder, Andrew Boukather & Daniel Blackwell - CBRE
• Square Footage: 21,416
• Price Per Square Foot: $468

The sale was facilitated by CBRE, with Daniel Blackwell and Andrew Boukather representing both the Los Angeles-based seller and the Orange County 1031 exchange buyer. Blackwell highlighted the property's attractive features and competitive offers, ultimately achieving a 5% in-place cap rate for the transaction.