CBRE arranged the sale of two multifamily properties totaling 24 units for $7.61 million in northern Orange County to two separate buyers. In the first transaction, EVP Dan Blackwell and associate Amanda Fielder represented the buyer in the sourcing and acquisition of a 16-unit multifamily property located at 1801 & 1809 E. Wilshire Ave. in Fullerton.
The off-market transaction had a sale price of $4.2 million. The buyer was based in Los Angeles County. The Orange County-based seller was exchanging into a Delaware Statutory Trust (DST).
According to Blackwell, the sale of 1801 & 1809 E. Wilshire is the largest apartment transaction in Fullerton this year and marks the property’s first change of ownership in 40 years.
In the second transaction, Blackwell and Fielder represented an Orange County-based exchange buyer in the acquisition of an eight-unit multifamily property at 7012 & 7024 El Dorado Dr. in Buena Park. The sale totaled $3.41 million. The seller was a private investor based in Orange County.