The undisclosed buyer has shelled out $1.2 million for the complex, known as Holmes Apartments. Encompassing 17,484 rentable sf, the 19-unit property stands on a 2-acre lot at 14626 Holmes. Dating back to 1989, the complex contains three two-bedroom, one-bath units and 16 two-bedroom, two-bath units. Amenities include attached one-car garages, as well as central air conditioning and heat.

Both the buyer and seller were represented by a four-person team, consisting of Alex Garcia, Bill Melton, Cray Carlson and Ramon Kochavi, from the Ontario office of Marcus & Millichap Real Estate Investment Brokerage Co.

The Inland Empire has been a favorite among multifamily investors as of late, since the region's steadily rising population and job growth provides a stable tenant base for apartments here. Between 1990 and 2000, Riverside County boasted the largest increases in population and employment in the Southern California region, with San Bernardino County right on its heels in second place.