CBRE successfully facilitated the sale of a multifamily property located at 10651 Tibbs Circle in Garden Grove for $2,225,000. The eight-unit complex was purchased by a private investor and sold for an average of $278,125 per unit and over $438 per square foot.
Leading the transaction was Executive Vice President Dan Blackwell who represented the seller, a loyal client based in Los Angeles. The buyer hails from Orange County.
According to Blackwell, “Our strategic marketing approach attracted numerous competitive offers for this fully occupied property which ultimately sold at 97% of its asking price. This demonstrates the high demand for well-positioned multifamily properties in Orange County.” He also noted that all seven one-bedroom units and one two-bedroom unit had recently undergone renovations which greatly appealed to the buyer.
Blackwell went on to say that CBRE has maintained a longstanding relationship with this repeat client and is currently handling another eight-unit multifamily property sale in Garden Grove while simultaneously representing them on their purchase of 32 units in Bellflower as well as 10 units in Fullerton.
This successful transaction showcases CBRE’s expertise and commitment to providing top-notch service to their clients time after time.
