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Clear Capital Divests Ontario Apartments for $46M
Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed the sale of Rancho Vista Apartments, a 125-unit multifamily asset in Ontario. The property sold for $46,275,000, or $370,200 per unit.
Alexander Garcia Jr., IPA executive managing director, said, “In 2024, the Inland Empire experienced one of the slowest years on record with regard to the sale of multifamily assets greater than 100 units and we are pleased to start 2025 with a very meaningful data point in a highly desirable submarket.”
Garcia and IPA’s Kyle Pinkalla, Chris Zorbas, Kevin Green, Joseph Grabiec and Gregory Harris represented the seller, Clear Capital, and procured the buyer, Convenient Holdings.
Built in 1984, Rancho Vista Apartments consists of two- and three-bedroom floor plans that average 1,022 square feet. Unit amenities include direct access to two-car garages with washer and dryer connections, private balconies off the master bedrooms, central air conditioning and heat.
- ◦Sale/Acquisition