IE Business Daily Business news for the Inland Empire.
A 50-unit multifamily development in Rialto has been sold for $12.2 million.
Cambria Villa Apartments cover 43,000 square feet on a 103,700-square-foot site, according to CBRE.
Built in 1985, the property at 1531 W. Rialto Ave. features one and two-bedroom units that cover an average of 887 square feet. amenities include a swimming pool, landscaped courtyard with a picnic area, private garages and guest parking.
CBRE represented the buyer and seller. Both parties declined to be identified.
“Investor demand for well-maintained multifamily assets in the Inland Empire remains strong,” said Eric Chen, executive vice president with CBRE, in the statement. “Cambria Villa Apartments combines stable in-place income, large unit sizes and a desirable location, making it an attractive investment opportunity in today’s market.”
