Marcus & Millichap announced the sale of Chateau de Ville, a 254-unit multifamily property in Anaheim, Calif. The asset was brought to market for the first time in more than 50 years and traded for $79 million.
Marcus & Millichap represented the seller, a long-term partnership, and procured the buyer, a private investor.
The property is in North Anaheim, home of Knott’s Berry Farm. Interstate 5 is nearby, and California State University – Fullerton, Hope International University and Cypress College are within a short drive. Anaheim’s major employers include Disneyland, Anaheim Regional Medical Center, Kaiser Permanente and the Honda Center.
Built in 1970 on nine acres, Chateau de Ville is a 21-building, controlled-access community with a swimming pool, clubhouse and fitness center. The unit mix is one- and two-bedroom apartments with hardwood floors, walk-in closets, air conditioning, and a patio or balcony.
