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MULTIFAMILY NEWS
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Riverside Multifamily Community Sells for $60 Mil

8/05/22

Raincross Promenade, a 141-unit luxury property in Riverside, sold for $60 mil ($425.5k/unit). Built in 2010, the property is located at 3250 Market St, west of I-215 and south of Hwy 60.

Raincross Promenade is four floors in height and includes structured garage parking. It has a mix of large floor plans including two-level townhomes and features high-end finishes and amenities.

The property is situated within walking distance of the famous Mission Inn and the historic County Courthouse in Riverside’s celebrated Raincross Square District downtown. Residents benefit from close proximity to three institutions of higher learning within 6.1 miles, as well as a plethora of entertainment and shopping opportunities nearby.

Kyle Pinkalla with Northmarq represented the seller, an entity of Regional Properties LP. The property was purchased by Raincross Promenade LLC.





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