Moreno Valley Multifamily Trades for $7M

A private investor has acquired the 48-unit Bevia Apartments in Moreno Valley, CA for $6.65 million. Located 13260 Heacock St., the complex is a two-story, garden-style apartment community originally built in 1979.

CBRE’s Eric Chen and Blake Torgerson represented all parties in the transaction, including the seller, an un-named private Asian-based investor.

The property encompasses 39,200 square feet on a 2.35-acre lot, and features 66 parking spaces and a stand-alone management office. It’s within two miles of the Moreno Valley Mall and one mile of the 60 freeway, which connects Moreno Valley locally to the other Inland Empire communities, as well as Orange and Los Angeles counties to the west.

According to Torgerson, “Our debt and structured finance team arranged highly competitive financing, which was a big help for the buyer.”

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