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October 18, 2019
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SOUTHERN CALIFORNIA NEWS
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San Bernardino Multifamily Property Generates Multiple Offers Before Selling for $123k/Unit

7/14/17

An unnamed private investor out of Los Angeles paid $9.75 mil for Country Club Apartments, a 79-unit ($123.4k/unit) multifamily community in San Bernardino. Built in 1986, the property sits on a 5.44-acre site at 160 East Parkdale Ave.

The Country Club Apartments features attractive amenities including a swimming pool and hot tub, a recreation room and in-unit washer dryers. It is well-located with three of San Bernardino’s largest employers (Community Hospital, St. Bernardine, and CSUSB) situated within a 15-minute drive of the property.

Alex Mogharebi and Otto Ozen of TMG represented the buyer and the seller, Dornin Investment Group, a private real estate investment firm. The listing generated multiple offers.

“The property is in the desirable CSUSB submarket of San Bernardino that has been seeing some solid rent growth the last couple years,” noted Mogharebi. “Country Club was particularly appealing to the buyer because of its large floor plans with washer / dryer hookups, making it conducive for a value-add strategy.”





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