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Photo credit: Courtesy of Colliers International A 29-unit multifamily development in Santa Ana
After multiple offers, a 35-year-old multifamily property in Santa Ana sold for the first time for $6.8M.
The 29-unit multifamily development is spread over four separate parcels on 2.26 acres. Its sale was part of a 1031 exchange.
Colliers International senior vice president Patrick Swanson and associate Brenden Felix repped the seller. Both Swanson and Felix are based in Colliers' Irvine office.
Around 90% of the units consist of two-, three- or four-bedroom apartments, the majority of which are single story.
There are also 52 garages on the properties at 3309-3313 West Camille St., 413-421 South Susan St. and 431-435 South Susan St.
The buyer was a private investor who invests in multifamily properties.
