(Read more on the multifamily market.)

GARDEN GROVE, CA-Private investors have acquired three apartment complexes here and in two other communities in deals totaling more than $12 million, the largest of them the sale of the 32-unit Kona Garden Apartments here. The others were the 26-unit Mountain View Apartments in La Quinta and a 22-unit complex in Santa Ana.

The Kona Garden, a Polynesian-themed property that was built in 1962, sold for $5.5 million in a deal between two private investors. The property, at 9731 Acacia Ave. in Garden Grove, is situated on nearly three acres and consists of 13 bungalow-style buildings in a garden setting. The transaction was brokered by Hiu Chan of the Long Beach office of Marcus & Millichap, who represented both the buyer and the seller.

In the La Quinta transaction, Los Angeles-based P&D Properties bought the Mountain View Apartments, a 26-unit complex at 51025-51085 Avenida Martinez, for $3.75 million. The seller was La Quinta-based Mauka View LLC, which was represented by Cameron Hall of Sperry Van Ness in Ontario and Michael Kassinger of Sperry Van Ness in Palm Desert.

The five-building Mountain View property was built in 1978 and is situated on 1.33 acres. It was 90% occupied at the close of escrow and includes 17 two-bedroom units along with nine three-bedroom units at rents ranging from $950 to $1,200. Its location is in Old Town La Quinta near the La Quinta Cove area and the PGA West Golf Resort. The buyer was represented by Kelly Armstrong of Keller Williams Realty.

In the Santa Ana transaction, a Mission Viejo-based private investor paid $3.2 million for the 22-unit complex at 224 S. Lyon St., near the Interstate 5 Freeway and First Street. The seller was a private investor from Studio City.

The property was built in 1959 and is a two-building complex that consists entirely of two-bedroom, one-bathroom units with rents ranging from $1,150 to $1,200. The deal was brokered by Shane Shafer, Mike Casagrande, Brett Bayless and Tyler Bengard of Sperry Van Ness in Irvine.

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