ONTARIO-An Ontario multifamily property, known as the Rose Garden Apartments, has traded hands in a deal worth nearly $12 million.

The property, which has sold for a 6.7% cap rate, has fetched $84,155 per unit and $103 per sf. Located at 2945 S. Sultana Ave., the complex contains 142 units. The unit mix here consists of 32 one-bedroom and one-bath floor plans, 40 two-bedroom and one-bath units and 70 two-bedroom and two-bath apartments. Completed in 1987, the Rose Garden Apartments complex encompasses 116,500 sf. It was 96% occupied at the time of sale, with rents ranging from $695 to $945 per month.

Alex Mogharebi of Marcus & Millichap Real Estate Investment Brokerage Co., who had the exclusive listing to market Rose Garden Apartments, brokered the transaction on behalf of both the buyer, Allen Properties, and the seller, an undisclosed developer based in Los Angeles.

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