IE Business Daily Business news for the Inland Empire.
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.
