The company, Palais 9 LLC, has paid $625,000 for the property. It was 100% occupied at the time of sale. Located at 302-310 W. Palais Rd., the building dates back to 1962. Amenities here include a laundry facility, garages, air conditioning and ceiling fans.
Palais 9 LLC was represented by a brokerage team consisting of Ken Morgan, Jay Skenderian and Rick Applebaum of the Newport Beach office of Morgan Skenderian Investment Real Estate Group. The same team acted on behalf of the seller, Elliott Fund 81 LP of Laguna Niguel.
The Anaheim deal follows on the heels of a recently reported multifamily transaction in La Habra. In that sale, private investors Eric and Amy Chang snapped up a 16-unit property for $1.6 million. Known as Lambert Apartments, the complex is located at 229 W. Lambert Rd. It was sold by Michael Santuci and North Shore LP.
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