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2/08/22
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Interstate Equities Corporation has purchased The Bryant at Yorba Linda, a 400-unit, best-in-class multifamily community in South Orange County, in a transaction valued at $ $205.5 mil, or $514k per unit. Built in 1986, the property is located at 25550 River Bend Rd, just north of the 91 Fwy.
The Bryant at Yorba Linda is a garden-style complex in one of the most affluent areas of Orange County. Located on the northeastern border of Orange County in the city of Yorba Linda, the area is attractive to residents due to top-rated K-12 schools for their children as well as luxury living experiences such as hiking trails and beautiful golf courses. Adjacent to the intersection of CA-91 and CA-241, residents have quick access to multiple areas of Orange County as well as Los Angeles and the Inland Empire.
Strong market fundamentals such as an average income of nearly $160k bolsters The Bryant’s position as the alternative to home ownership for residents with high paying jobs due to the high cost of living, the median sale price of a single-family home is $1,053,000.
The seller, Resource REIT, had owned the property and renovated it over the last few years by implementing a contemporary renovations program. Interstate Equities plans to complete the renovation work to enhance the property further.
Shane Shafer with Northmarq represented the buyer in the deal. We’re told by Northmarq that this transaction represents the largest property to sell this first quarter 2022 and the largest ever for Yorba Linda/Anaheim Hills.
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