28-Unit Buena Park Multifamily Property Sold For $9.8M With Matthews Representing Both Parties

A 28-unit multifamily property located at 7051 9th Street in Buena Park was sold for $9.8 million, with a price per unit of $350,000. The transaction occurred as part of a dual 1031 exchange, which is increasingly common in the secondary-market multifamily sector, attracting investors despite shifting national fundamentals.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,800,000
• Units: 28
• Price Per Unit: $350,000
• Broker: Mark Bridge - Matthews

The deal involved Matthews Real Estate Investment Services, which represented both the buyer and the seller. The buyer intends to undertake renovations with the aim of enhancing cash flow and increasing the property's long-term value.