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2/14/17
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Suncrest Apartments, a 22-unit apartment property located in Ontario, was purchased by a private investor partnership in a recent $4.01 mil ($182.2k/unit) transaction. The property, located at 1908 South Mountain Ave, was built in 1986 and consists of all two-bedroom apartment units with two-car garages.
Alexander Garcia, Jr., Senior Director IPA, and Douglas McCauley, Senior Vice President Investments in Marcus & Millichap’s Ontario office, represented the buyer and the seller, a private investor. The transaction closed escrow at a 4.8% cap rate.
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