San Bernardino Multifamily Community Sells for $13M
CBRE has brokered the $13.05 million sale of Green Village Townhomes, a 70-unit multifamily community in San Bernardino, CA. The transaction highlights recent multifamily activity in the Inland Empire, an area more known for its hot industrial sector. CBRE reports rents in San Bernardino County have increased 25% since 2019 and there are 11 new apartment developments in the pipeline.
“The San Bernardino multi-housing market continues to remain extremely strong,” said CBRE’s Cray A. Carlson who represented both the buyer and seller in the transaction. “Regardless of the rising interest rates, apartment rents in San Bernardino are still among the lowest in California which have created many upside opportunities.”
Located at 2443 Windsor Drive, Green Village Townhomes is a gated community with a mix of one- and two-bedroom units across nine single-story buildings. Situated just minutes from Interstates 210 and 215, the property features a community pool, basketball court and outdoor lounge areas.