Monday , April 12 2021

Apartment complex fetches $5.4 million

A 32-unit apartment complex in Riverside has sold for $5.4 million.

Located at Madison Street and Magnolia Avenue, the two-story multifamily property has exclusively one-bedroom floorpans, according to a statement released today by CBRE.

The purchase price works out to $170,000 per unit.

Brian and Sue McMillan were the sellers in the off-market transaction. No other information regarding the couple was disclosed.

The buyer, REF Investment LLC in Ontario, sold two apartment buildings, – one in San Gabriel and one in Ontario – to complete the agreement.

Both parties were represented by CBRE, according to the statement.

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