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California  + Inland Empire  + Apartments  | 

Moreno Valley Apartments Trade as Heavy Value-Add Opportunity 

CBRE facilitated the $8.72-million sale ($181,667 per unit) of a 48-unit multifamily property, Bevia Apartments, at 13260 Heacock St. in Moreno Valley, to Bevia Apartment Owners I LLC. Eric Chen and Blake Torgerson of CBRE represented both the buyer and seller, Bevia Apts LLC. 

The community, located on the southeast corner of Heacock Street and Dracaea Avenue in this Riverside County city, features a mix of studio, one-, two- and three-bedroom floor plans. The property has undergone significant renovation after a fire had damaged units. The new owner will complete post-fire damage construction and stabilize the property, which, at the time of sale, was half vacant due to the fire. 

“This transaction signals the confidence from buyers in today’s market to purchase heavy value-add opportunity, to reposition and capture additional value in this property,” said Chen. 

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CBRE's Chen

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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