CB Richard Ellis closes multifamily sale

Secures buyer for 10-acre property in Orange County, Calif.

CB Richard Ellis facilitated the sale of a 128-unit apartment property in Anaheim, Calif. The transaction was valued at approximately $15.4 million. The identities of the buyer and seller were not disclosed. Known as The Cottages, the property at 425 North Magnolia Ave., offers 126 two-bedroom/one-bathroom units and two one-bedroom/one-bathroom units in a single story configuration. Onsite amenities include a large central park area, basketball courts, swimming pool, playground, as well as in-unit amenities such as washer/dryer hookups and large private patio areas. Built in 1964, the property sits on more than 10 acres. CB Richard Ellis is a commercial real estate brokerage. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....