A private investor has acquired a 12-unit multifamily community in Placentia. The property is located in an opportunity zone site, and traded hands for $2.9 million or $258,000 per unit, significantly more than its appraised value last year.

The sellers have owned the property since they developed it in 1959. It totals 9,216 square feet. Each of the 12 units is 768 square feet and features two bedrooms and one bathroom, as well as a washer and dryer.

CBRE SVP Dan Blackwell represented the seller, a private investor.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Orange County
Opportunity Zones
Capital Markets