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June 15, 2024
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OC Apartment Trade Comps at $354k/Unit


In a recent OC apartment sales comp, a 12-unit multifamily property in Anaheim sold for $4.25 mil or $354k/unit. The property was purchased by a private investor in a 1031 exchange.

Located at 921-927 S. Trident St, the property was constructed in 1962 and is comprised of two two-story buildings on 0.42 acres. It offers 10 two-bedroom and two three-bedroom floor plans, with unit sizes ranging from approximately 1k sf to 1.6k sf. Most of the units have undergone renovations, including plank flooring throughout, new baseboards and blinds, updated bathroom vanity and newer shower, and new cabinets and countertops. The property also features a recently updated modern courtyard with two pergolas, two laundry facilities (one in each building), and a newer roof, as well as ample parking.

The Trident Street property is conveniently located within walking distance of retail, restaurants, services, schools and parks. It is also in close proximity to public transit, Interstate 5, and State Route 22 and 57 freeways, providing residents with access to amenities in both Los Angeles and Orange counties. With over 195,000 people within a three-mile radius, the average household income is $110,104.

Dan Blackwell and Andrew Boukather with CBRE represented the seller, an OC-based private real estate investor. Additionally, Blackwell, Boukather, along with CBREs Sean Farag, repped the buyer in the deal.

"Six competitive offers were generated as a result of our marketing efforts," Blackwell stated. "The property, located in a prime location near the prominent intersection of Euclid Street and Ball Road in Anaheim, presented significant upside potential in a strong rental market with limited inventory."

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