ANAHEIM, Calif. – July 13, 2022 – Cushman & Wakefield announced the firm has brokered the sale of a newly renovated 16-unit garden-style multifamily community in Anaheim, California. Completing extensive interior and exterior renovations during 2021/2022, the Orange County property sold for $5.67 million, equating to a price of $354,375 per unit and a 4.4% CAP rate.
The buyer and seller were private individual investors. Mark Bridge with Cushman & Wakefield’s Multifamily Advisory Group in Orange County represented both sides in the transaction.
“This asset provided an investor a great opportunity to acquire a well-maintained apartment community with major renovations having been completed,” said Mark Bridge, Managing Director. “This property is in a good central Anaheim location near major retail, educational, employment as well as family entertainment opportunities. The location is also less than a mile from the I-5 Freeway, providing tenants great regional connectivity and accessibility.”
Located at 2070 S Mountainview Ave, the complex is situated on nearly half an acre and consists of a single two-story building with 14 two-bedroom / one-bathroom units and two (2) one-bedroom /one-bathroom units. Built in the 1960s, the property’s recent upgrades included new exterior paint, camera system, exterior wood, resurfaced decking, new asphalt parking, courtyard concrete, landscaping, and gazebo. Interiors have received all new paint and texture, kitchen and bathroom fixtures, interior lighting, bathroom vanities, and carpet and vinyl plank flooring.
The community has a gated front yard and entry, an on-site laundry room, and a spacious courtyard with the new gazebo and barbecue area is at the center of the property.
The property is within a mile of Disneyland, California Adventure, Anaheim Convention Center, Angel Stadium, Honda Center, the ARTIC Train Station, and Interstate 5.
