GARDEN GROVE, CALIF. — CBRE has arranged the sale of two communities in Garden Grove, about 22 miles west of Long Beach. Each property is approximately 40 years old and has never been on the market. The transactions involved separate buyers and sellers. The first property, Meadow Grove, is a 33-unit community at 13882 Clinton St. that sold for $12.9 million. It was developed in 1985. The unnamed seller was the heir of the original developer. The second property is Nutwood Street, which includes 15 units located at 12841–12879 Nutwood Street. It was developed in 1986 and sold for $4.5 million to a 1031-exchange buyer. CBRE’s multifamily team is currently marketing 180 units for sale across various properties in Southern California, including an eight-unit property in Garden Grove.
CBRE has arranged the sale of two communities in Southern California, both of which were sold by the original owners after hold periods of about 40 years. A 15-unit community on Nutwood Street in Garden Grove, Calif., pictured, was one of the two properties. Image courtesy of CBRE.
CBRE Arranges Two Orange County Sales Totaling $17.4 Million
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