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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