10761 Palma Vista Ave. in Garden Grove, California

CBRE Arranges Sale of Two Neighboring Communities in Garden Grove, California

by Channing Hamilton

GARDEN GROVE, CALIF. — CBRE has arranged the sale of two communities located on the same street near Euclid Street and Katella Avenue in Garden Grove. The two properties comprise of 14 units with a combined value of $3.3 million.

In the first transaction, CBRE’s Dan Blackwell and Andrew Boukather represented both the buyer and seller in the sale of an eight-unit property at 10772 Palma Vista Ave. The property was built in 1961 on a 0.2-acre site. The asset traded hands for $1.9 million. The buyer was a private investor from Los Angeles County and the seller was based in San Diego County.

Blackwell and Boukather also represented the buyer in the acquisition of a six-unit multifamily property located directly across the street at 10761 Palma Vista Ave. The building rises two stories and was built in 1961 on 0.2 acres. CBRE structured the debt for the buyer. Gianni Novo of CBRE’s West Los Angeles office procured competitive bridge financing for the client. The sale price was $1.4 million.

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