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CBRE Arranges Sale Of 38-Unit Multifamily Properties In Anaheim & Costa Mesa For $12.12M

Property Image
SOLD
$12,120,000
Mike O’Neill
Daniel (Dan) Blackwell
Andrew Boukather

California

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MultiFamily
Sold 06/28/2023
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Property Image
SOLD

CBRE Arranges Sale Of 38-Unit Multifamily Properties In Anaheim & Costa Mesa For $12.12M

1800 W Glencrest Ave Anaheim, CA 92801, USA

See Similar Deals
MultiFamily
Sold 06/28/2023
Mike O’Neill
Daniel (Dan) Blackwell
Andrew Boukather
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

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

Daniel (Dan) Blackwell
CBRE
Daniel Blackwell
61 deals$439.4M volume(949) 725-8655
BROKER
Mike O’Neill
CBRE
Mike O’Neill
25 deals$160.8M volume
BROKER
Andrew Boukather
MBI Equity Partners
Andrew Boukather
11 deals$64.5M volume(949) 809-3629
BROKER

Details

SOLD
IMAGE: Dan Blackwell, Mike O’Neill & Andrew Boukather DATE: 06/28/2023 ADDRESS: 1800 West Glencrest Avenue & 1887 Monrovia Avenue MARKET: Anaheim & Costa Mesa ASSET TYPE: Multifamily BROKERS: Andrew Boukather, Dan Blackwell (@MultifamilySocal) & Mike O’Neill - CBRE (@CBRE) SALE PRICE: $12,120,000 UNITS: 38 ~ PPU: $318,947 NOTE: CBRE arranged the sale of two multifamily apartment communities in Orange County for a total of 38 units and $12.12 million. The transactions were part of a 1031 exchange and involved private investors from Southern California.

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Debt Service Coverage Ratio (DSCR)

0.94x

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Cash Flow (Annual)-$43,059.81
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