CBRE arranged the sale of 1180 Central Ave., a seven-unit multifamily property in Riverside, to the Michael J. O’Neill and Jean A. O’Neill Trust for $2.21 million, or $315,000 per unit. The Kazanjian Exemption Trust sold the investment property.
EVP Eric Chen and VP Blake Torgerson of CBRE represented the O’Neill Trust. “The buyer of this property is a repeat client and needed to purchase a property by the end of the year,” said Chen. “Because the buyer could purchase the property in all cash and closed escrow within 21 days, the process was seamless.”
Located in the Canyon Crest area of Riverside, the community was built in 1975 on the Canyon Crest Country Club golf course. The property offers two- and three-bedroom floorplans, five of which are town-house style with golf course views.
