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March 21, 2019
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SOUTHERN CALIFORNIA NEWS
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Senior Apartment Community in Ontario Sells for $142k/Unit

12/19/18

Villa Plaza, a 66-unit senior apartment community in Ontario, sold for $9.36 mil ($141.8k/unit). Built in 1970, Villa Plaza is located at 1155 W 4th St, south of I-10 and just west of Mountain Ave.

Villa Plaza is a two-story apartment community consisting of six residential buildings totaling 35k sf of space, situated on a 1.20-acre site. The community features one- and two-bedroom units. It also boasts a clubhouse with full kitchen, laundry facilities, covered parking, and controlled access.

Bryan LaBar, Otto Ozen, and Alex Mogharebi of The Mogharebi Group represented both the seller, a San Diego based private investor and the San Gabriel Valley buyer.

“Due to the low price per unit and location, the buyer pool was large,” noted Ozen. “The property represented a great value with solid upside that required a special buyer to realize its full potential.”





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