While the Inland Empire is largely known as the home to one of the largest industrial markets in the nation, the region has also seen a number of multifamily deals take place over the last several months. In one recent deal that closed on Dec. 6, a 70-unit community in San Bernardino traded for $13.05 million, or about $186,428 per unit. According to public records, the property was sold by an entity linked to Bernardo Diaz to an entity affiliated with Neil Doshi.
The property is home to the Green Village Townhomes and is located at 2443 N. Windsor Drive. Totaling 70,342 square feet, the property consists of nine buildings on 5.45 acres.
Overall, Green Village Townhomes contains a mix of unit types, with 20 two-bedroom and one-bathroom units and 50 two-bedroom and two-bathroom units. There are also several amenities at the property including covered carports and a pool.
The property is located just south of State Route 210 and near the onramp to Interstate 215. The townhomes are also located south of California State University San Bernardino’s campus and a short commute from the San Bernardino International Airport.
In the past couple of months, a number of residential assets have traded in the Inland Empire. In one deal that closed in November, a 44-unit affordable housing community in Palm Springs sold for $11.25 million, or about $255,682 per unit. The property is known as Sunnyview Villa Apartments and is located at 2900 N. Indian Canyon Dr. Another deal that took place in November involved the sale of a 272-unit senior housing community in Rialto. The property, which is located at 245 East First Street, was acquired by Positive Investments for $36.5 million, or about $134,191 per unit.
