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September 24, 2020
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Inland Empire Res Community Trades for $45.5 Mil


The Heights at Grand Terrace, a 228-unit community in Grand Terrace, was acquired by an East Coast-based investment entity for $45.5 mil, or $199.6k/unit. The property is located at 22491 DeBerry St, south of I-10 and just east of I-215, near San Bernardino.

The Heights is a two-story, 1970s built apartment community comprised of 19 residential buildings totaling 192k sf and situated on a nine-acre site. The Heights at Grand Terrace features spacious one- and two-bedroom floor plans with an average size of 842 sf. The property boasts a resort styled pool and spa, cutting-edge fitness center, private clubhouse, multimedia room, has semi-private patios, private garages and is fantastically located near schools, ample shopping, and restaurants.

Alex Mogharebi and Otto Ozen of The Mogharebi Group represented the seller, a private group based in San Diego, and the buyer.

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