Upland Apartments with Value-Add Potential Trade to Limited Partnership

Marcus & Millichap finalized the sale of Amber Pines Apartments, a 23-unit multifamily property located at 330 Amber Ct. in Upland. The property sold for $5.9 million, or $257,717 per unit.

“Amber Pines features a mix of spacious studio, one- and two-bedroom floor plans,” said Douglas McCauley, senior managing director investments. “The asset’s prime north Upland location and strong underlying fundamentals provide the buyer with a solid foundation to add value through interior upgrades and property improvements over time.”

McCauley and David Covarrubias, investment specialists in Marcus & Millichap’s Inland Empire office, represented the buyer, A-SF Limited Partnership. The seller was a California trust.

Built in 1975, the 22,118-square-foot property is situated on 0.75 acres. Unit amenities include central air conditioning and heating, private patios and balconies, fireplaces, dishwashers and in-unit washers and dryers. Community amenities include a swimming pool, barbecue area and 35 carports and open parking spaces.

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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).

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◦Sale/Acquisition

SFR Investment Property Forest Grove OR | 1270 Pacific Ave. 97116
Los Angeles, CACalifornia & West + Apartment Buildings
Listing Status: Available
Price: $7,490,000
No. of Units: 30
Cap Rate: 5.13
GRM/GIM: 11.39
Year Built: 1956
Building Size: 20182 Sq ft
Lot Size: 0.55 Acres
Opportunity Zone: No
Price per unit: $249,666
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Casa Serena Apartments | Multifamily Property in Indio, CA

Indio, CACalifornia & West + Apartment Buildings

Listing Status:	Available
Price:	$8,400,000
No. of Units:	51
Cap Rate:	6.61
GRM/GIM:	9.13
Year Built:	1982
Building Size:	29376 Sq ft
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No. of Stories:	1
APN:	612-064-001 to 612-064-052
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