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1/11/18
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Murrieta-based Winchester Partners LP paid $4.8 mil for Cameron Historical Building, a mixed-use property in Temecula. Located in the heart of the city’s Old Town, the fully occupied property includes 24 affordable housing units and three ground-floor, market-rate retail units.
Built in 2008 and located at 41925 5th St on just under one half-acre of land, Cameron Historical Building offers its residents the charming amenity-rich retail, dining and business environment of Old Town Temecula. The property is also within walking distance to public transportation, parks and additional shops and restaurants.
Peter Hauser and Matthew Hauser with Avison Young represented the seller, Cameron Properties Inc, from Covina. The buyer was self-represented.
“The Temecula market continues to remain strong and has garnered a good amount of investor interest as it offers a diversity of housing options, a desirable quality of life with nearby amenities, and is near the 215 and 15 freeways, providing convenient access to adjacent San Diego and Orange counties,” Hauser noted. “With a high demand not only for multi-family product in general, but affordable housing, Cameron Historical Building is poised to provide the new ownership with a steady cash flow and long-term stable investment.”
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