CBRE Arranges Sale Of 38-Unit Multifamily Properties In Anaheim & Costa Mesa For $12.12M
1800 W Glencrest Ave Anaheim, CA 92801, USA
$12,120,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 28, 2023
AI
The sale of two multifamily apartment communities in Orange County has been arranged by CBRE for a total of 38 units and $12.12 million. The properties are located at 1800 West Glencrest Avenue and 1887 Monrovia Avenue in Anaheim and Costa Mesa respectively.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $12,120,000
- Units: 38
- Price per Unit: $318,947
- Market: Anaheim & Costa Mesa
The transaction involved private investors from Southern California and was executed as part of a 1031 exchange.
CBRE represented the private investors in the deal, with Andrew Boukather, Dan Blackwell, and Mike O'Neill acting as the brokers.
Players
Los Angeles 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
1.31%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93