IE Business Daily Business news for the Inland Empire.
A 20-unit apartment complex in Twentynine Palms has been sold for $2.4 million.
Blue Horizon Apartments was 95 percent occupied when it changed hands, according to CBRE, which represented the buyer and the seller in the transaction.
Both parties declined to be identified.
“The Twentynine Palms area has grown a lot in the past few years,” said Cray Carlson, senior vice president with CBRE, in the statement. “The mix of two- and three-bedrooms made it more attractive to buyers and was a major selling point. There seems to be no shortage of buyers in the market right.”
Built-in 1987, the complex at 5228 Adobe Road recently underwent major renovations, including new wood floors, appliances, and air conditioning in some units, according to the statement.
Blue Horizon Apartments is five miles south of the Marine Corps Air Ground Combat Center Twentynine Palms, which has about 8,000 armed service personnel on site, according to the statement.
