The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 23, 2018
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



INLAND EMPIRE NEWS
Printer-friendly Version   Email an Associate
Inland Empire Apartment Property Sells in $4.8 Mil Deal

12/11/17

Infinitus Investments Groups LLC purchased a 62-unit multifamily property in San Bernardino for $4.8 mil, or $77.4k/unit. The property, located at 1420 East Pumalo St, was sold by Pumalo Properties L.P.

The complex offers a mix of one- and two-bedroom apartments, ranging from 850 sf to 920 sf in size. The site features a community pool and spa, a laundry room, fully gated access and ample parking. The property is in proximity to schools and large retail centers.

CBRE’s Cray Carlson and Nick Mercurio represented the buyer in the deal. Paul Calvo of the Calvo Group repped the seller.

“This transaction was an off-market property we found for our client in a very tight market with little inventory,” said Carlson. “Because the loan had to be assumed from the seller, the transaction was a bit complicated.”

Apartment vacancies in the Greater Los Angeles region are expected to remain stable throughout 2017 with a probable temporary rise due to new supply opening in 2018. Rents are likely to continue to increase at a moderate pace, according to the latest CBRE research.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media