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INLAND EMPIRE NEWS
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Investor Pays $229k/Unit for Redlands Apartment Property

4/11/18

In a recent multifamily comp out of the Inland Empire, Cypress Villas, an 83-unit apartment property in Redlands, sold for $19 mil, or $229k/unit. The property is located at 301 E Cypress Ave, near downtown Redlands and the University of Redlands.

Cypress Villas was built in 2006 and sits on roughly 4.7 acres. This property contains a mix of 14, one-bedroom/one-bath units, 61 two-bedroom/two-bath units, seven three-bedroom/two-bath units, and one three-bedroom/two-bath unit.

Jim Kordell with Marcus & Millichap represented the buyer, a limited liability company





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