LA HABRA, CALIF. — CBRE has arranged the sale of two properties totaling 38 units in La Habra, an Orange County city about 27 miles southeast of Los Angeles. CBRE’s Dan Blackwell and Amanda Fielder arranged the transactions. Combined, the sales totaled approximately $12.3 million. The properties included The Bungalows on Monte Vista and Villa Monica.
The Bungalows on Monte Vista, constructed in 1964, is located at 141–247 South Monte Vista St. The 18-unit asset sold for $6.4 million and traded at a 5.74 percent cap rate. The seller was a private investor based in Pasadena, California. Villa Monaco, a 20‑unit community located at 950 North Walnut St., traded for $5.85 million. The property was built in 1968 and had been owned by the same San Diego-based family since construction. The buyer was a private investor based in Orange County who plans to update the asset.