Los Angeles – CBRE announced the sale of a 14-unit multifamily property in Ontario, Calif. to Golden Management, a California-based investor, for $2.56 million.
CBRE’s Eric Chen and Andy Yu represented the seller, REF Investment, a limited liability company, in the transaction.
Located at 565 West D Street, the 10,246 square-foot property was originally built on a 0.31-acre lot in 1962 and is comprised of nine one-bedroom, one-bathroom units, four two-bedroom, one-bathroom units and one three-bedroom, one-bathroom units. The community sits two miles south of I-10, a major freeway that connects Ontario to the rest of the Inland Empire and Los Angeles.
“The Inland Empire has led job growth in California for two consecutive years and has become increasingly desirable as a multifamily investment market,” said Chen. “The buyer owns multiple properties in the surrounding area, and we were happy to add another strong asset to their portfolio.”
The CBRE team also represented the buyer in the transaction.
CBRE’s Eric Chen and Andy Yu represented the seller, REF Investment, a limited liability company, in the transaction.
Located at 565 West D Street, the 10,246 square-foot property was originally built on a 0.31-acre lot in 1962 and is comprised of nine one-bedroom, one-bathroom units, four two-bedroom, one-bathroom units and one three-bedroom, one-bathroom units. The community sits two miles south of I-10, a major freeway that connects Ontario to the rest of the Inland Empire and Los Angeles.
“The Inland Empire has led job growth in California for two consecutive years and has become increasingly desirable as a multifamily investment market,” said Chen. “The buyer owns multiple properties in the surrounding area, and we were happy to add another strong asset to their portfolio.”
The CBRE team also represented the buyer in the transaction.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
