Located at 755 E. Virginia Way, the 156-unit property dates back to 1986. It stands on a 7.79-acre parcel that includes pockets of grassy areas, a swimming pool and a spa. Additional amenities here include a large laundry room and open parking spaces for both residents and guests.
The buyer, Scenic View LP, was represented by Alex Mogharebi of the Ontario office of Marcus & Millichap Real Estate Investment Brokerage Co. Mogharebi also acted on behalf of the seller, Steadfast Scenic View LP.
The transaction marks the latest in a string of Inland Empire multifamily sales, as the apartment market here continues to attract investor interest. A steady increase in the area's population, coupled with the rising cost of homes, is keeping the region's multifamily market on an even keel.
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