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12/17/21
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Hallmark at Mission, a 75-unit multifamily community in Ontario, recently traded to a private foreign investor for $28 mil, or $373.3k/unit, in an all-cash transaction. Located at 840 S. Magnolia Ave, the four-story property was originally constructed in 2019.
The unit mix is comprised of one- and two-bedroom apartments. Community amenities include a swimming pool and spa, clubhouse, fitness center and private attached garages. The property is less than three miles from I-10, connecting the area to other parts of Southern California.
Eric Chen of CBRE represented the buyer and the seller, a private investor.
“Hallmark at Mission is a quality asset located in one of Southern California’s fastest-growing submarkets,” said Chen. “This property has performed very well throughout the pandemic and is poised for future rent growth.”
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