IE Business Daily Business news for the Inland Empire.
A seven-unit apartment complex in Riverside has been sold.
The Kazanjian Exemption Trust sold the complex at 1180 Central Ave. to the Michael J. O’Neill and Jean A. O’Neill Trust for $2.2 million, according to CBRE.
The sale price is $315,000 per unit. CBRE represented the buyer.
“The buyer of this property is a repeat client and needed to purchase a property by the end of the year,” said Eric Chen, executive vice president with CBRE. “Because the buyer could purchase the property in all cash and closed escrow within 21 days, the process was seamless.”
The complex is in the Canyon Crest section of Riverside. It has two- and three-bedroom floor plans, five of which are town-house style that overlook Canyon Crest Country Club, according to the statement.
