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PLACENTIA, CALIF. — CBRE has arranged the $2.9 million sale of a 12-unit multifamily property in Placentia. CBRE’s Dan Blackwell represented the seller, a private investor.
Located at 911 Cypress Ave., the 9,216-square-foot property consists of 12 single-story cottages on a lot just under one acre. Each unit is 768 square feet and features two bedrooms and one bathroom, as well as a washer and dryer. The property is located in an Opportunity Zone.
The complex sits within one mile of both the CA-91 and CA-57 freeways connecting Placentia to Los Angeles and Riverside counties. California State University, Fullerton is located two miles north of the site.