Thursday , March 28 2024
Breaking News
Seven Inland Empire multifamily properties change hands

Seven Inland Empire multifamily properties change hands

CBRE has completed sales of seven multifamily properties in the Inland Empire worth a combined $14.4 million.
The buyers are all private investors attracted to the two-county region because rents there are rising, according to a statement released Monday.
Names of buyers and sellers were not made public.
The properties are:
• Eight-units at 863-905 N. Vineyard Ave., Ontario that sold for $2.3 million.
• Nine units at 4640 Olivewoood Ave., Riverside that sold for $1.3 million.
• Twelve units at 213-217 W. County Line Road, Calimesa that sold for $2.19 million.
• Eight-units at 138 E. Graham Ave., Lake Elsinore that sold for $1.83 million.
• Twenty two units at 580 W. E St., Colton that sold for $3.19 million.
• Ten units at 1354-1356 Jasper Ave., Mentone that sold for $1.68 million.
• Eleven units at 1358 Jasper Ave., Mentone that sold for $1.88 million.
“The Inland Empire has been one of the fastest-growing regions in the nation in terms of rent growth,” said Eric Chen, senior vice president with CBRE and a member of the negotiating team. “This has created huge investor interest. The outlook for multifamily in the region is likely to be strong for years to come.”

Check Also

building sold

Jurupa Valley Travel Center is sold

A travel facility in Jurupa Valley has been sold for $14 million. The Pilot Flying …

Leave a Reply

Your email address will not be published. Required fields are marked *