CBRE recently facilitated the sale of a newly renovated multifamily property in Santa Ana for $3,105,000. Located at 425 E. Wellington Ave., the nine-unit property was purchased by a local buyer and sold for $345,000 per unit and $590 per square foot – reportedly setting records as the highest price per square foot for a Santa Ana multifamily property since April 2023.
The seller, based in Tennessee and represented by EVP Dan Blackwell along with senior associate George Felix and associate Amanda Fielder of CBRE’s Multifamily SoCal team, has now sold this property four times through CBRE. The buyer is based in Orange County.
Blackwell commented on the transaction: “Our extensive marketing efforts resulted in multiple competitive offers and tours before closing at 98% of our asking price. This turnkey asset is located in the highly desirable French Park District.”
This marks another successful sale for CBRE’s Multifamily SoCal team who most recently sold this same property to its current sellers back in December 2020.
