Updated Dec 4, 2024
Marcus & Millichap Sells Multifamily Property In Anaheim For $27.45M
1670 West Broadway
$27,450,000
Units
76
Asset Type
MultiFamily
Closing
Jun 11, 2024
About this deal
AI
The Le Chateau Apartments, a 76-unit multifamily property located at 1670 West Broadway in Anaheim, California, was recently sold for $27,450,000. This transaction was facilitated by Drew Holden, Matthew Kipp, Nick Kazemi, and Tyler Leeson from Marcus & Millichap.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,450,000
- Address: 1670 West Broadway
- Market: Anaheim
- Units: 76
- Price per Unit: $361,184
The sale of Le Chateau Apartments was completed in just 23 days and attracted a 1031 exchange buyer due to the area's low vacancy rates and stable rent growth. Tyler Leeson and the team at Marcus & Millichap successfully closed the deal, showcasing their expertise in the real estate market.
Players
Anaheim MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93