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INLAND EMPIRE NEWS
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Two Inland Empire Multifamily Buys Total $4.6 Mil

4/21/21

Weve got two Inland Empire multifamily sales comps to share. In one, a portfolio consisting of 13 residential units in Bloomington was acquired by a private investor for $2.73 mil ($210k/unit). The assets were sold by a family trust.

Located at 17771, 17789, 17795, 17747 and 17713 Marygold Ave and 9945 Alder Ave, the Bloomington Portfolio is comprised of eight one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, one three-bedroom/one-bathroom single family residence and three three-bedroom/two-bathroom single family residences. These assets also include about 3.5 acres of surplus land for development or other uses.

The recently renovated properties are located on 6.15 acres near Interstate 10, Interstate 215 and Interstate 15. Bloomington is a city in San Bernardino County.

In a Riverside deal, a 15-unit multifamily property was purchased by a private investor for $1.88 mil, or $125k per unit. The property, Cypress Apartments, is located at 8831 Cypress Ave, just minutes from La Sierra University, the Riverside Municipal Airport and the 91 Fwy.

Cypress Apartments is comprised of three studios, seven one-bedroom/one-bathroom and five two-bedroom/one-bathroom units. The apartments are all single-story with a front patio and ample onsite parking.

CBREs Cray Carlson and Nick Mercurio represented the sellers, local private investors, in both transactions. Carlson and Mercurio also repped the buyer in the Cypress Apartments deal.





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