ANAHEIM, CA-Locally based Royal Nutrition has swallowed up a 54-unit apartment complex in Moreno Valley, as investors are hungrily eyeing the Inland Empire’s tight multifamily market.

Royal has paid $3.6 million for the property, known as Palos Verdes Village. The complex is located at 24248-24254 Dracaea and 24247-24293 Atwood.

The buyer and the seller, San Rafael-based Taurus Distribution, were represented by Alex Mogharebi of Marcus & Millichap’s Ontario office.

Multifamily properties have been changing hands at a steady pace in the Inland Empire, as such high demand for housing here has made apartment product a strong investment. The demand is being driven mainly by strong population and job growth, which the area continues to experience despite a weakening national economy. Rents are expected to rise as the year progresses, since new supply will be unable to meet the high level of demand, according to local experts.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.