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Local Investor Grabs 46-Unit Complex

SAN CLEMENTE, CA-A San Clemente-based private investor pays $2.3 million for the Riverside apartment complex. It was 95% occupied at the time of sale.

By Erin Cassin | Updated on February 06, 2002

SAN CLEMENTE, CA-A San Clemente-based private investor has acquired a Riverside apartment complex in a deal valued at $2.3 million.

Known as Spanish Oaks, the three-building property is located at 8395 Magnolia Ave. The 46-unit apartment complex was 95% occupied at the time of sale.

The buyer, McSpanish Oaks LLC, was represented by John Kalmikov and Bill Roblero of Grubb & Ellis’ Ontario office. The seller, Los Angeles-based Cal State Investment Ltd., was represented in-house.

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