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Thursday, Feb 13, 2025
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The Arbors Complex Sells for $40.8M

A 160-unit apartment building that was bought by a group of investors led by Major League Baseball Hall of Famer George Brett in 2013 has sold again, according to CoStar data.

The Arbors, a 125,191-square-foot apartment complex at 1100-1200 E. Fairhaven Ave., changed hands on Aug. 7.

CoStar data shows the multifamily property sold for $40.8 million, or about $325 per foot and nearly $255,000 per unit. The buyer is affiliated with Los Angeles-based Post Investment Group, property records indicate.

Brett, through a revocable trust, bought The Arbors in 2013 for $28 million, or $175,000 per unit, alongside other investors. The 71-year-old was a 13-time baseball all-star and is considered one of the greatest players ever for the Kansas City Royals.

The Arbors, located about a mile east of Main Place Mall and a few blocks south of the Garden Grove (22) Freeway, was built in 1969.

CBRE reported that Orange County’s multifamily market had a vacancy rate of 3.4% through the second quarter. The average per unit monthly rent for an apartment in Orange County was $2,802, according to the brokerage’s data.

Other notable multifamily transactions last quarter, per CBRE, included the 400-unit Core in Anaheim, 371-unit Pistoia Apartments in Irvine and 287-unit Milani Apartments in Irvine.

Core sold for $221 million ($553,790 per unit), while Pistoia traded for $97 million ($260,978 per unit) and Milani changed hands for $103 million ($359,502 per unit).

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