Closed Deals

Tesoro Apartment Homes

106 West Pennsylvania Avenue, Redlands, CA 92374

Property Description

Marcus & Millichap, as the selling agent, is pleased to announce the completed sale of Tesoro Apartment Homes, a 188-unit multifamily community located in Redlands, California. Built in 1989, the property is uniquely positioned to benefit from a moderate renovation that is expected to increase rental income by nearly 8 percent. Situated on a sizeable and well-maintained 10.99-acre lot, the property consists of 21, two-story garden-style apartment buildings with a well-rounded community and unit feature package.

Sale Highlights

  • All Cash Transaction
  • Short Due Diligence Period
  • Passed Through Deposit of $2,000,000
  • 1031 Exchange: Buyer
Status: Sold
Year Built: 1989
Price: Confidential
No. of Units: 188
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