Apartment complex sells for $1.75 million

A 12-unit apartment complex in Riverside has been sold.

Palm Courtyard Apartments at 4333 Brockton Ave. sold for $1.75 million to a private entity whose name was not released, CBRE announced.

The seller was a local investor who also wished to remain anonymous. CBRE represented both parties in the transaction.

The 9,000-square-foot property consists of nine one-bedroom and three two-bedroom units, each with one bath. 

Built in 1964, the complex traditionally has had high occupancy and long-term tenants. It’s within one mile of the 91 Freeway, a half-mile from downtown Riverside and within walking distance of Riverside Community Hospital, Mission Inn and Riverside Community College, according to a statement.