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48-Unit Complex Sells for $1.7M

RIALTO, CA-Nijjar Realty acquires the apartment building after a pending deal falls through, according to apartment specialist Bill Roblero of Grubb & Ellis.

By Bob Howard | Updated on August 20, 2002

RIALTO, CA-Nijjar Realty, an El Monte-based investment group, bought a 48-unit apartment complex in Rialto for $1.7 million.

Apartment specialist Bill Roblero of Grubb & Ellis, who represented the buyer and the seller along with John Kalmikov of Grubb & Ellis, tells GlobeSt.com that Nijjar stepped in after a pending sale to another buyer fell through. The seller was Walker Investments of Riverside, which had owned the complex for two years.

The property is a single-story, four-building, wood frame and stucco complex at 448 Eucalyptus Ave. that was built in the mid-1970s and was 96% occupied at the time of the sale.

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