IE Business Daily Business news for the Inland Empire.
A 98-unit multifamily complex in Riverside has been sold for $34.5 million.
Turtle Creek Apartments at 4826 Van Buren Blvd. was sold by Turtle Creek Residential LLC to SC El Camino LLC, according to CBRE.
CBRE represented both parties in the transaction, which was completed after a one-year assumption from seller to buyer of a U.S. Department of Housing and Urban Development loan. The amount of the loan was not disclosed.
Turtle Creek Apartments is in the Arlanza neighborhood, which is near Kaiser Permanente Riverside Medical Center, California Baptist University, La Sierra University, and the Galleria at Tyler.
Completed in 2020, the property covers nearly 90,000 square feet on a 179,000-square-foot site. It has one-, two-, and three-bedroom units with an average unit size of 916 square feet, according to CBRE.
Community amenities include a swimming pool and spa, fitness center, bark park, tot lot, gated entry and professional on-site management.
