IE Business Daily Business news for the Inland Empire.
A mixed-use property in Old Town Temecula has been sold.
Cameron Historical Building, a combination of 24 affordable-housing units and three ground-floor retail units, sold for $4.8 million, according to a statement released by Avison Young.
The seller was Cameron Properties Inc. in Covina, which was represented by Avison Young’s Irvine office. The buyer, a private investment group in Murrieta, represented itself, according to the statement.
“The Temecula market continues to remain strong and has garnered a good amount of investor interest,” said Peter Hauser, principal with Avison Young, in the statement. “Cameron Historical Building is poised to provide the new ownership with a steady cash flow and [a] long-term stable investment.”
Built in 2008, Cameron Historical Building sits on a half-acre at 41925 Fifth St. It’s within walking distance of parks, public transportation, and a variety of shops and restaurants, according to the statement.
