Tennessee Investor Sells Newly Renovated Santa Ana Multifamily For $3.1 Million With CBRE

A nine-unit multifamily property located at 425 East Wellington Avenue in Santa Ana has been sold for $3,105,000. This transaction represents a new record high for sales price per unit and per square foot in the market. A Tennessee-based investor completed over $1 million in renovations on the property prior to the sale.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,105,000
• Units: 9
• Price Per Unit: $345,000
• Market: Santa Ana
• Broker: Amanda Fielder, Daniel Blackwell & George Felix - CBRE

The property was acquired at 98% of the asking price by a buyer from Orange County, highlighting a significant investment opportunity with future potential for development of accessory dwelling units.