FULLERTON AND BUENA PARK, CALIF. — CBRE has arranged the sales of two multifamily communities in northern Orange County to two separate buyers. Dan Blackwell and Amanda Fielder of CBRE represented the buyers in both transactions.
In the first deal, an undisclosed Los Angeles-based buyer acquired a 16-unit multifamily property, located at 1801 and 1809 E. Wilshire Ave. in Fullerton. The $4.2 million price equates to $262,500 per unit. The Orange County-based seller was exchanging into a Delaware Statutory Trust in the off-market transaction.
Constructed in 1958, the 10,032-square-foot community features two two-story buildings, garage parking, a pool and laundry facility. Recent improvements include renovations to certain units, as well as new exterior paint and landscaping.
In the second transaction, an Orange County-based exchange buyer purchased an eight-unit multifamily property at 7012 and 7024 El Dorado Drive in Buena Park. An Orange County-based private investor sold the asset for $3.4 million, or $426,719 per unit.
Built in 1960, the property features two fourplexes encompassing 6,874 square feet and features a mix of two-bedroom/one-bath and two-bedroom/two-bath units.