CBRE facilitated the sale of two multifamily rental communities situated on a prominent street in Garden Grove, near the intersection of Euclid Street and Katella Avenue. The transactions involved separate buyers and sellers, resulting in a total of 14 units sold for a combined value of $3.3 million.
In one transaction, EVP Dan Blackwell and senior associate Andrew Boukather acted as representatives for both the buyer and seller in the sale of an eight-unit multifamily property at 10772 Palma Vista Ave. The property was sold for $1.87 million, equating to $233,125 per unit or $383 per square foot. The buyer was a private investor from Los Angeles County while the seller hailed from San Diego County.
The second transaction also involved Blackwell and Boukather representing the buyer in their purchase of a six-unit multifamily property located directly across from their first acquisition at 10761 Palma Vista Ave., which sold for $1.44 million or approximately $240,000 per unit with each square foot valued at around$380.The seller was an Orange County-based private investor while CBRE’s repeat client based out Newport Beach served as purchaser.
This post highlights CBRE’s successful facilitationof neighboring properties’ salesin Garden Grove without mentioning specific locations such as “Connect CRE,” “Connect LA,” or “Connect Texas.”
