Located at 1422 E. 9th St., the property consists of 25 buildings spread over seven acres. Comprised of 160 units, which range from 40 one-bedroom, one-bath, 72 two-bedroom, one-bath and 48 three-bedroom, two-bath units, it was 90% occupied at the time of sale. Built in 1985, the complex features a security gate, three separate laundry rooms, a pool and barbecue areas.

Alex Garcia of the Marcus & Millichap Real Estate Investment Brokerage Co. brokered the transaction. The seller was John A. Newmeyer, and the buyer was an investor known as Brooks.

Investment demand continues to grow in the Inland Empire, as a recent Marcus & Millichap multifamily report notes. "Sales activity has been brisk, given the strength of the market and more affordable prices," the report says, pointing out that "more buyers than sellers stimulates demand in the investment arena in the Inland Empire and prices have moved accordingly." According to Marcus & Millichap's research, the median price per unit of $49,184 represents a 7% increase over the $45,982 achieved in 2001.