196-UNIT MULTIFAMILY PROPERTY SELLS FOR $23.6 MILLION
SANTA ANA, CALIF. — Advanced Real Estate Services Inc. has acquired The Court at Artists Village, a multifamily property located at 301 W. 2nd St. in Santa Ana, for $23.6 million or $120,408 per unit. The 193,856-square-foot property features 196 units, 12,222 square feet of ground-floor retail shops and 1,412 square feet of storage and office space. At the time of acquisition, the residential portion was 86 percent occupied and the retail portion was 25 percent occupied. Ron Harris of Marcus & Millichap represented the seller, a joint venture between BlackRock Realty and a private investment firm, in the transaction.