NAI Capital Negotiates Sale of 15-unit Multifamily Apartment Complex
Orange, CA, Wednesday, June 29, 2016– Senior Vice President Sonya Dopp-Grech, Vice President Steve Lewallen and Senior Associate Ryan Dopp with NAI Capital represented the seller Children’s Hospital of Orange County on the sale of a 15-unit multifamily apartment complex in Orange, Calif. The transaction totaled $3,815,000 or $254,333 per unit. The buyer was the Mary Elizabeth Shen Family LLC.
The property located at 1844-1846 W. Culver Avenue in the City of Orange, CA was sold as an investment. The two story complex was built in 1979 and is situated on 26,928 square feet of land. The property consists of 2 buildings plus garages, surface parking and laundry room on site with contracted laundry service. The apartment complex is centrally located in a residential area near retail centers, CHOC Children's Hospital, St. Joseph's Hospital and Main Place Mall with convenient freeway access to 5, 22 & 57 freeways.
Dopp-Grech said, “Due to the central location and high demand for multifamily investment properties, there was strong interest in this asset which sold over the asking price.”
About NAI Capital
NAI Capital Company is one of Southern California’s leading full-service commercial real estate organizations, providing a complete range of transaction, valuation, investment, property management and consulting services. NAI Capital is one of the largest members of NAI Global, a premier real estate service network with 375 offices and 6,700 market leaders spanning the globe. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, corporate occupants and investors throughout Southern California. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #00806840
To learn more, visit www.naicapital.com
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
NAI Global was acquired in 2012 by C-III Capital Partners, a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, online capital markets, title services and multifamily property management. C-III’s principal place of business is located in Irving, TX, with additional offices in New York, NY, Greenville, SC and Nashville, TN.
To learn more, visit www.naiglobal.com
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