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11/23/20
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Batavia Gardens, a 32-unit multifamily community in the city of Orange, was purchased for $11.5 mil ($359.4k/unit) by a local 1031-exchange investor. The seller was also a local investor.
The multifamily property sits on 1.8 acres at 345 N. Batavia St. Within walking distance to Chapman University and just over one mile to Old Towne Orange, the property offers prominent visibility along Batavia St.
Batavia Gardens features two-bedroom townhome floorplans with private patios and community amenities, such as a gated entry, swimming pool and laundry facilities. Recent exterior improvements include new paint, stucco repair, new roofing and a pool deck.
CBRE’s Dan Blackwell and Katrina Heyne represented both parties in the transaction.
“This is the first time Batavia Gardens has been offered for sale in more than 40 years,” said Blackwell. “The property’s location, rental demand and embedded value made it a strong acquisition opportunity. This is the largest apartment complex to be sold in the City of Orange since 2016.”
If you’re interested in more details about this property, click HERE to view the marketing video about the listing posted on RENTV by CBRE.
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