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November 19, 2019
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SOUTHERN CALIFORNIA NEWS
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Moreno Valley Apartment Property Sells for $143k/Unit

9/23/19

A 15-unit multifamily property in Moreno Valley was acquired for $2.15 mil ($143k/unit), in an all-cash deal. The buyer is an experienced local investor who owns several other buildings in Moreno Valley.

The 13k sf property, located at 24668 Eucalyptus Ave, consists of all single-story two-bedroom/one-bathroom units. The complex features abundant parking, a secured front gate, an on-site laundry facility, and a large outdoor area.

Eric Chen and Blake Torgerson represented the buyer in the deal. The seller, a private family trust, was repped by an outside broker.

“This was a great opportunity for the buyer to acquire an apartment community near several other properties they already own,” said Torgerson. “The complex is located in an area that is seeing significant job growth, with high rental demand, that will continue to see rent growth into the near future.”





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