June 14, 2018
CBRE completed two multifamily transactions in the Inland Empire communities of Riverside and Adelanto. The deals total $4.3 million, and involve a 21-unit apartment property and a 36-unit apartment complex.
A local multifamily investor paid $2.85 million for a property located at 4543-4581 Main St. and 4566 Orange St. Riverside. CBRE’s Cray Carlson and Nick Mercurio represented the buyer and seller. The portfolio includes a seven-unit and an eight-unit apartment property, a single-family home and a site with three duplexes.
Pro Residential Services, Inc., a local apartment management agency, paid $1.475 million for a 23,400-square foot property located at 18633 Larkspur Rd. and 11200 Vintage Rd. in Adelanto (pictured). CBRE’s Carlson represented the buyer, as well as the seller, who will be doing a 1031 exchange.
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