Saturday , June 22 2024

Two multifamily properties change hands

A 13-unit multifamily portfolio in Bloomington has been sold for $2.7 million.

Located in the 17770 block of Marygold Ave. and 9945 Alder Ave., the properties include 3.5 acres of surplus land for development or other uses, according to CBRE.

CBRE represented buyer and seller in the negotiations. Information about those parties was not released.

The properties, which sit on 6.5 acres near Interstates 10, 15 and 215, were recently renovated. The portfolio generated much interest because it was a rare opportunity to buy large properties next door to each other, according to CBRE

In a separate transaction, a 15-unit multifamily complex in Riverside has sold for $1.8 million.

Cypress Apartments, at 8831 Cypress Ave., is near La Sierra University, Riverside Municipal Airport and the 91 Freeway.

The complex is made up of three studio, seven one-bedroom and five two-bedroom units, according to CBRE.

Information about buyer and seller was not released.

 

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