Marcus & Millichap negotiated the sale of the Seasons Senior Apartments at Diamond Bar in Diamond Bar, Calif.

The value of the transaction was $14.4 million.

The 82,714-square-foot apartment building is located at 23750 Highland Valley Road. The community was constructed in 1989 and consists of 149 units situated on a 9.9-acre lot.

The community features a swimming pool, spa, barbecue facility, and an accessory building, which houses a professional management and leasing office, a central mail facility, and a recreational room with a full kitchen, fireplace, billiard room, TV lounge, and restrooms. There are two laundry rooms on the property. Parking facility includes both carports and open spaces with a total of 122 spaces.

A California-based investment group purchased the asset from a locally based private investor.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're here to help. Free 90-day trial for new subscribers.Click Here×