A 38-unit apartment complex in Santa Ana has sold for $7.52 million to a private investor in Newport Beach.
The property, at 701 E. 5th St., received multiple offers, according to The Mogharebi Group, which represented both the buyer and the seller, an unidentified private investment group in Orange County.
The 5th Street Apartments, built in 1955 and 1961, is a two-building, two-story complex with 17,179 rentable square feet. Apartments come in studio, one-bedroom, and two-bedroom floor plans.
The apartments are also close to the city’s trendy 4th Street Market and downtown community.