Colliers International Completes the Sale of Eight Multi-Family Units for $2.5 Million in San Clemente, Calif.
San Clemente, CA – May 20, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, has completed the sale of an eight multi-family units located at 1006-1008 Buena Vista St., San Clemente, Calif. The transaction is valued at $2.5 million.
The apartment building was built in 1965 and has eight units which are all two bedroom / two bath units. At the time of the sale, the building was 25% vacant.
Pat Swanson, vice president based in Colliers’ Orange County office, represented the seller, a private individual. The buyer was also a private individual.
“This eight-unit apartment complex sold for $312,500 / Unit, at a 4.39% CAP rate,” said Swanson. “The units were across the street from the Bluff, with great ocean views.”
About Colliers International
Colliers International is a global leader in real estate services with more than 15,000 professionals operating out of 480 offices in 61 countries. As a subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), Colliers offers the stability of a strong financial partner and significant local ownership providing clients with accountability and enterprising real estate solutions. Colliers provides a full range of services to real estate users, owners and investors worldwide including: global corporate solutions; sales and lease brokerage; property and asset management; project management; hotel investment sales and consulting; property valuation and appraisal services; mortgage banking and insightful research. The Lipsey Company and National Real Estate Investor magazine ranked Colliers International as the world’s number two commercial real estate brand.
Since 1908, Colliers has stood at the forefront of the Los Angeles real estate industry. Today, Colliers operates seven offices throughout Greater Los Angeles, including Downtown Los Angeles, Orange County, Inland Empire, South Bay, San Fernando Valley, Santa Clarita and Commerce. Follow us at www.twitter.com/colliersgla.
Contact:
Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
Dir +1 213 532 3258 | Mob +1 310 867 4105
Main +1 213 627 1214 | Fax +1 213 327 3258
angela.hwang (at) colliers (dot) com
Colliers International
865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA
www.colliers.com
