NNC Apartment Ventures Acquires 51-Unit Imperial Apartments In Santa Ana For $15 Million

The property involved in this transaction is a multifamily asset known as the Imperial Apartments, located at 1722 North Bush Street in Santa Ana. The sale price for this 51-unit property was $15,000,000, which translates to a price per unit of $294,118.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,000,000
• Buyer: NNC Apartment Ventures
• Seller: Craig Clausen - Clausen Enterprises
• Brokerage Firm: Marcus & Millichap
• Brokers: Tyler Leeson, Nick Kazemi & Jon Mimms
• Units: 51
• Price Per Unit: $294,118

NNC Apartment Ventures completed this acquisition as part of a 1031 exchange, utilizing the property as the upleg in the transaction. The deal was facilitated by Marcus & Millichap, with brokers Tyler Leeson, Nick Kazemi, and Jon Mimms representing the involved parties throughout the process.