High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Inland Empire  + Apartments  | 

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.

Read More News Stories About: Marcus & Millichap
Connect

Inside The Story

Marcus & Millichap's McCauley

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
New call-to-action
New call-to-action
New call-to-action
New call-to-action
New call-to-action