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Pomona Apartments Trade to LLC for $10M
Marcus & Millichap recently closed the sale of North Garey Village Apartments, a 44-unit apartment property located in Pomona,. The asset sold for $9,900,000.
Douglas McCauley, SVP investments, and David Covarrubias, first VP investments, both in Marcus & Millichap’s Inland Empire office, marketed the property on behalf of the seller, Kot and Offenbecher Trust. The buyer, Flowing Streams LLC, was also procured by McCauley & Covarrubias.
“We generated tremendous buyer demand given its location and the apartment rehab opportunity,” said McCauley. “We negotiated with multiple buyers and closed escrow in 28 days.”
Built in 1963, North Garey Village Apartments is located at 3106 N. Garey Ave. in Pomona. The property consists of 11 apartment buildings with a majority of two-bedroom floorplans. Other amenities include single-car garages, on-site laundry facilities, storage rooms and select units with fireplaces.
- ◦Sale/Acquisition




