CRE Transaction Alert
CBRE announced the sale of an 18-unit multifamily property, Juniper Apartments in Fontana, Calif., to a private buyer for $2.65 million.
CBRE’s Cray Carlson represented the seller, a local private investor, in the transaction.
Located at 8945 Juniper Ave, Juniper Apartments is comprised of eighteen two-bedroom, two- bathroom units, averaging 856 square feet. The property features fully secure gated access and 25 covered parking spaces, 16 storage units, and 15 surface parking spaces.
Juniper Apartments is located south of the Historic Route 66 in walking distance to Chaffey College-Fontana Campus, Fontana Metrolink Station and Downtown Fontana and in proximity to major employers like Kaiser Hospital, Fontana Unified School District, Auto Club Speedway, Industrial centers, among others. Fontana provides convenient access to I-10, 15 & 210 freeways, connecting the population to Los Angeles and other major cities throughout Southern California.
“We worked through the difficult process of securing financing during the COVID-19 pandemic,” said Carlson. “Seller and buyer were both extremely happy with the transaction, and the new owner is planning on rehabbing the building.”
CBRE’s Carlson also represented the buyer in the transaction.