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June 24, 2024
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OC Multifamily Comp Works Out to $262k/Unit


A 16-unit multifamily asset in Anaheim sold for $4.2 mil to Emile’s Mart Car Wash LLC. The purchase price equated to a price of $262.5k per unit with a cap rate of 5.6%. The two-building, two-story complex was 100% leased at the time of sale.

Located at 320-404 Guinida, the property comprises 16 one-bedroom/one-bathroom units with larger floorplans averaging over 700 sf. The complex was originally constructed in the early 1950s but completed a major renovation in 2022 that consisted of new paint and stucco, new courtyard area, newly paved parking lot, new fencing as well as new windows and new air conditioning systems for the units. The units have also been renovated over time.

The property is situated less than 1,000 feet from Disneyland Resort, Disney California Adventure Park, and Anaheim Marketplace shopping center, and is also within a few miles of the ARTIC Train Station, Angel’s Stadium, Honda Center, and multiple schools.

Mark Bridge with Cushman & Wakefield’s Multifamily Advisory Group in Orange County represented the seller, Stuart Little LLC, in the transaction. According to Bridge, each of the 16 units were renovated to varying degrees.

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