An annual income of $63,680 was needed to afford the U.S. median monthly apartment rent of $1,592 in December, according to a report. That was a year-over-year decline of 0.4 percent, and the lowest required income recorded since March 2022, the real estate brokerage Redfin reported. It was also a …
Read More »
The Inland Empire multifamily market ended 2024 with an occupancy rate of 94.5 percent, a slight increase from the third quarter, according to a report. One thousand one hundred and ninety-five multifamily units were absorbed in Riverside and San Bernardino counties during the last three months of 2024, up from …
Read More »
A Mobil gas station, convenience store and car wash in Colton have been sold for $5.2 million. Purchase of the facility at 130 W. Valley Blvd. included the businesses and the property they’re located on, according to Progressive Real Estate Partners in Rancho Cucamonga. Buyer and seller are both Inland …
Read More »
A Dutch Bros Coffee drive-thru in Moreno Valley has been sold for $2.6 million. The 950-square-foot restaurant at 23140 Hemlock Ave. was built last year, according to Hanley Investment Group in Corona del Mar. Hanley Investment Group represented the seller and developer, Evergreen Devco Inc, in Glendale, in the ground …
Read More »
Statewide sales of existing single-family homes totaled 268,180 in December, essentially unchanged from November and up 19.8 percent compared with December 2023, according data released Jan. 17. December’s statewide median home price was $861,020, up 1.0 percent from November and up 5.0 percent from December 2023, when the median price …
Read More »
The Inland Empire industrial market was a story of east versus west during the fourth quarter of 2023. The west end – Ontario, Rancho Cucamonga, Fontana – continued to improve in the last three months of the year, positive net absorption, declining vacancy and only slight declines in lease rates, …
Read More »
IE Business Daily Business news for the Inland Empire.
