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April 13, 2024
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Anaheim Multifamily Asset Trades for $79 Mil

2/23/24

Chateau de Ville, a 254-unit multifamily property in Anaheim, sold for $79.1 mil, or $311k/unit. The property is located at 2020 W. Alameda Ave, east of Brookhurst St on the southwest side of I-5.

Built in 1970 on nine acres, Chateau de Ville is a 21-building, controlled-access community with a swimming pool, clubhouse and fitness center. The unit offers a mix of one- and two-bedroom apartments with hardwood floors, walk-in closets, air-conditioning and a patio or balcony.

The property is in North Anaheim, home of Knott’s Berry Farm. Interstate 5 is nearby, and California State University, Fullerton, Hope International University, and Cypress College are within a short drive. Anaheim’s major employers include Disneyland, Anaheim Regional Medical Center, Kaiser Permanente and the Honda Center.

Tyler Leeson and Matt Kipp with Marcus & Millichap represented the seller, a long-term partnership, and procured the buyer, a private investor. This was the first time the property traded in over 50 years.

“As the only market in the nation to enter 2024 with Class A and Class B multifamily vacancy rates below 4%, we expect to see increasing competition for apartment assets throughout Orange County,” said Kipp.





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