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SAN BERNARDINO, CA-A buyer from Los Angeles has acquired a 40-unit apartment complex from a Santa Monica-based seller.

Cray Carlson of the Ontario office of Marcus & Millichap says that Group IV of Los Angeles bought the one-building complex at 1433 E. Lynwood Dr. in San Bernardino from Queen Properties of Santa Monica. Carlson represented both the buyer and the seller in the transaction.

The two-story walk-up complex, built in 1968, is made of wood frame and stucco. It is designed with 27 two-bedroom apartments and 13 three-bedroom units. The two-bedroom units range from 825 sf to 925 sf and rent for $450 to $675 per month. The three-bedroom units measure 1,125 sf and rent for $650 to $800 per month. The complex was 95% occupied at the time of the sale, reflecting what brokers say is the continued high occupancy rate for Inland Empire apartments despite the stagnant economy.

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