CBRE Brokers $17.36 Million Sale Of Multifamily Properties In Garden Grove Totaling 48 Units

This transaction involved the sale of two multifamily properties located at 13882 Clinton Street and 12841-12879 Nutwood Street in Garden Grove. The assets, totaling 48 units, were sold for $17,360,000, equating to a price per unit of $361,667. The properties are recognized for their below-market rents and potential for value-add opportunities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $17,360,000
• Total Units: 48
• Address: 13882 Clinton Street & 12841-12879 Nutwood Street
• Market: Garden Grove
• Price Per Unit: $361,667

Dan Blackwell and Jack O’Connor from CBRE represented the seller in this deal, which reflected rare generational ownership transfers within the city of Garden Grove. The transaction included the sale of Meadow Grove, a 33-unit property for $12.91 million, and a 15-unit property on Nutwood Street for $4.45 million, both highlighting significant investment potential.