IE Business Daily Business news for the Inland Empire.
A 41-unit apartment complex in Rialto has been sold for $6.8 million.
A private investor whose name was not released bought the Jackson Apartments, adding to a portfolio that includes several other multifamily properties in the greater San Bernardino market, according to a statement released by CBRE.
CBRE represented both parties in the negotiations. Information regarding the seller was not released.
The 52-year-old complex is at 205-242 W. Jackson Street, near Interstate 215 and Interstate 210. The property generated interest from local and national investors, and was sold for cash after one month on the market, said Gray A. Carlson, senior vice president with CBRE.
“The Inland Empire multifamily market remains one of the strongest in California, with most properties selling quickly due to high buyer demand and low inventory,” Carlson said in the statement.
