The buyers, Dilip and Bharat Patel of Cerritos, have paid $830,000 for the multifamily property. It is located at 1224 W. Center St.
Edmund Murphy of Murphy Investments acted on behalf of the buyers. The seller, Center Street Twelve, was represented by Lorena Batchelor of CB Richard Ellis' Anaheim office.
After a sizzling beginning in January, sales activity in the county's multifamily market seems to have slowed somewhat in recent weeks. It is the smaller transactions, like the Anaheim deal, that have been keeping local brokers busy as of late.
Recent examples include three separate sales in Santa Ana that involved a 16-unit complex and two fourplexes. The 16-unit complex, which stands at 722-730 S. Townsend St., was sold by John Saar. It was acquired by Andrew Peceimer in a deal valued at $795,000. Meanwhile, a fourplex located at 3917 S. Ross St. was acquired by private investor Joan E. Randolph for $550,000.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
