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10/06/20
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Pine Brook Apartments, a 240-unit apartment community in Bakersfield, was purchased by a NoCal-based private capital investor for $22 mil, or $92k/unit. Built in 1971, Pine Brook Apartments sits on just over nine acres at 5000 Belle Terrace.
Pine Brook Apartments offers great frontage exposure and is within a 30- to 60-minute commute to over 308,600 jobs. The community features an attractive array of amenities, including two sparkling swimming pools and spas, state of the art fitness center, garages, covered parking, leasing center, community clubhouse, outdoor BBQ stations and laundry facilities.
Pine Brook is walking distance to West High, James Curran Middle and Munsey Elementary Schools. It is also near numerous shopping destinations including Bakersfield Plaza, Valley Plaza, Retail Stores, and restaurants.
Mark Bonas of The Mogharebi Group represented the seller, a longtime owner based in Southern California. The property generated multiple offers.
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