Los Angeles – Dec. 9, 2021 – CBRE announced the sale of a 32-unit apartment property in Anaheim, Calif., to a local family trust for $8.65 million.
CBRE’s Dan Blackwell and Sean Farag represented the seller, a family LLC with an extensive portfolio in the Southern California region.
Located at 1569-1585 W. Ball Road, the two-story property was renovated over the course of the previous ownership. Built in 1960, it features one- and two-bedroom floorplans. The building sold for $410 per square foot, which is on the higher end for a property of this vintage, according to Blackwell.
“Demand for well-located, high-quality apartment buildings continues to soar,” said Blackwell. “We generated multiple offers and were able to go non-contingent on the first day.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
