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Marcus & Millichap Sells Multifamily Property In Anaheim For $27.45M
SOLD
$27,450,000
+ 1
California
See Similar DealsMultiFamily
Sold 06/11/2024
SOLD
Marcus & Millichap Sells Multifamily Property In Anaheim For $27.45M
1670 West Broadway
See Similar DealsMultiFamily
Sold 06/11/2024
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,464,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$97,524.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$130,127.00
Annual Debt Service$1,561,524.05
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