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2045 S State College BLVD, ...

Chapman University Acquires Anavia Apartments In Anaheim From Essex Coming Rep Tom Moran
SOLDMultiFamily

Chapman University Acquires Anavia Apartments In Anaheim From Essex Coming Rep Tom Moran

2045 S State College BLVD, Anaheim...

Building Size

Asset Type

MultiFamily

Closing

Nov 22, 2023

AI

Anavia is an apartment community located at 2045 S State College Blvd in Anaheim's Platinum Triangle area. Originally built as a for-sale condominium project, Anavia features 250 units/550 beds with an average size of 1,249 square feet. The property was sold by Essex to Chapman University in an off-market transaction for an undisclosed price.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: Undisclosed
  • Address: 2045 S State College Blvd, Anaheim
  • Market: Anaheim
  • Seller's Rep: Tom Moran (Berkadia)
  • Buyer: Chapman University

Tom Moran of Berkadia Irvine represented the seller, handling the off-market transaction that led to Chapman University acquiring Anavia for their student housing conversion plans.

Players

Tom Moran

Berkadia

Broker

$265.5M

vol

3 deals

Broker
CU
Chapman UniversityBuyer

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93