Buyer Acquires Nine-Eighteen Apartments In Anaheim For $7.1 Million With Marcus & Millichap's Brokers

The 32-unit Nine-Eighteen Apartments, located at 918 West Romneya Drive in Anaheim, was sold for $7.1 million. This multifamily asset spans 25,007 square feet and is situated on 0.87 acres. The sale price translates to $221,875 per unit, with a price per square foot of $284, and the transaction was completed in an all-cash deal.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,100,000
• Units: 32
• Price Per Unit: $221,875
• Square Feet: 25,007
• Price Per Square Foot: $284
• Broker Representatives: Joe Berkson, Tyler Leeson, Matthew Kipp, Nick Kazemi & Drew Holden - Marcus & Millichap
• Market: Anaheim, CA
• ACRES: 0.87

The transaction was executed by an unidentified buyer who already owned a neighboring apartment building. The buyer intends to enhance operational efficiency and increase income through strategic improvements as part of a long-term investment strategy.