BUENA PARK, CA, May 8, 2020 – The Leeson Group is pleased to announce the sale of Casa Andini, a 24-unit apartment property located in Buena Park, CA. Situated on a 0.89-acre lot, the 20,784 square foot property consists of one- and two-bedroom floor plans, each with a den, and offers amenities including security doors, patios, balconies, fireplaces, carport and open parking, and on-site laundry.
Tyler Leeson, Senior Managing Director at Marcus & Millichap’s Newport Beach office stated, “This transaction was unique because it closed after the announcement of the State’s corona virus stay at home orders. We were able to take some unique steps to secure a great buyer for the property. Even in the midst of marketing certainty, this asset has held its value well, had multiple competing offers and shows the overall strength of the local apartment market.”
The asset sold for $7,350,000. Matthew J. Kipp and Tyler Leeson, investment specialists in Marcus & Millichap’s Newport Beach office represented both the buyer and the seller in this transaction. The team was able to deliver and offer with a non-refundable $250,000 deposit and all contingencies were removed at the signing of the purchase agreement.