IE Business Daily Business news for the Inland Empire.
CBRE has negotiated the sale of a 14-unit apartment complex in Ontario.
Golden Management, a California-based investor, bought the property for $2.5 million, according to a statement.
The seller was REF Investment, a limited liability company.
Located at 565 West D St., the 10,246 square-foot complex was built in 1962. It sits a 0.31-acre parcel and is made up of nine one-bedroom, one-bathroom units, four two-bedroom, one-bathroom units, and one three-bedroom, one-bathroom unit.
The project is about two miles south of Interstate 10.
“The Inland Empire has led job growth in California for two consecutive years and has become increasingly desirable as a multifamily investment market,” said Eric Chen, a senior vice president with CBRE Ontario and a member of the negotiating team.
Golden Management has multiple properties in the area, Chen said.
