Buyers Close $25M Apartment, Land Sales

ANAHEIM, CA-Apartment sales of $17 million here and $8.6 million in La Habra, plus a 7.4-acre land sale in Mission Viejo, illustrate the interest in residential and multifamily investment in the county, according to brokers who were involved in the transactions. The three deals included the $17 million sale of a 142-unit complex in Anaheim by Marcus & Millichap, the nearly $8.6 million sale of 61 units in La Habra by Hendricks & Partners and the land sale, brokered by CB Richard Ellis.

The Anaheim property was the Arbors at Magnolia Apartments at 150 South Magnolia Ave. According to Alex Mogharebi, an EVP with Marcus & Millichap’s Ontario office who represented the buyer, the deal represented “a well-positioned investment opportunity located in the heart of Orange County where, in this market, home affordability is still an issue.” The buyer was a Los Angeles-based private investor.