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ANAHEIM, CA-Private investors have snatched up a multifamily building in Anaheim for $2.8 million. The apartment segment continues to garner interest among investors as one of the hottest sectors of the county’s commercial real estate market.

The recently sold building, Savanna Villas, contains 28 units. It is located at 2520 W. Savanna St.

The seller, Kraus Family Trust, was represented by Jerry Giglio of Grubb & Ellis’ Anaheim office. Jon Mitchell of Marcus & Millichap represented the buyer.

The transaction follows another recent apartment sale, which occurred in Cost Mesa. Private investors Sheldon and Roberta Marshall of Mission Viejo gobbled up the 12-unit Avocado Apartments, as reported last week by Globest.com. The complex, which is located at 370 Avocado St., has been acquired for $1.1 million. It was sold by Michigan-based Gholamreza Shashaani.

Local investors continue to favor multifamily product, as the county’s apartment sector is still tight. Vacancy rates stand at less than 3%, according to a recent report published by Marcus & Millichap. They are expected to remain static this year, the report says.

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