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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 …

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Barstow fast-food site sells for record price

Sold Stamp

A retail property in Barstow occupied by Raising Cane’s Chicken Fingers has sold for $5.5 million. The transaction includes the 1.2-acre site at 2620 Fisher Blvd. where the fast-food restaurant is located and its 15-year lease, according to SRS Real Estate Partners. SRS represented the seller, Starboard Realty Advisors. Newmark …

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Program allows landlords to recover more rent

Bank Handing Customer Cash

Expanded rental assistance is available to housing providers under the California Rent Relief Program. The program allows residential landlords with eligible tenants to recover 100 percent of unpaid COVID-19 rent owed to them going back to April 1, 2020, according to the California Association of Realtors. Previously, state law prohibited …

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Residential land put on the market

Residential development for sale

A 70-acre parcel in Riverside County intended for residential development is for sale. Stone Creek, at the southeast corner of Grand Avenue and Leon Road in the unincorporated Winchester, will accommodate 224 single-family homes, according to WD Land in Irvine. The site includes a 5.7-acre park and 3.8 acres of …

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Median-priced home out of reach for most Californians

median priced home

Only 23 percent of California households could afford to buy a median-priced home – $817,950 – during the second quarter of 2021, according to a report. That was down from 27 percent in the first quarter of 2021 and from 33 percent year-over-over, drops caused by low-interest rates and not …

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Riverside industrial building sells for $3.7 million

building sold

An 18,000 square-foot industrial building in Riverside has been sold for $3.7 million. The structure, located at 887 Marlborough Ave., was sold by New Power Inc. in Riverside to a private investor, according to Avison Young Ontario. New Power Inc., which Avison Young represented, is a solar power company. It …

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