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BARSTOW, CA-The Bascom Group of Irvine has acquired 138 units here in a $7.6 million sale brokered by Udi Katz of Coldwell Banker Commercial, who also has closed a separate deal in which he was a principal who purchased a 16-unit luxury complex in Murrieta for more than $1.9 million.

Katz, who represented both buyer and seller in the Barstow transaction, reports that Bascom bought the 138-unit Rimrock Village Apartments at 1801 E. Rimrock Road from private investors based in Salinas for more than $7.6 million. In the Murrieta transaction, Katz, acting as principal of U.K Residential Group Inc., acquired a property called Del Lago Estates at 28771 Calle del Lago from a San Diego seller.

The Barstow property is called Rimrock Village Apartments, is a two-story, walk-up style complex that was built in 1989 and was 93% occupied at the time of the sale. The Rimrock property, which comprises 17 buildings, includes 104 two-bedroom and 34 one-bedroom units as well as 118 garages, a pool and a fitness center, and a lighted tennis court. The units range from 651 sf to 900 sf, with rents that range from $635 to $770. Wells Fargo provided financing for Bascom’s purchase.

Katz’s U.K. Residential Group Inc. acquired its property from the James and Judith Monaghan Trust of San Diego. The Del Lago Estates complex, which was 100% occupied at the time of the sale, occupies a site of just under an acre. It was built in 1989 and consists of two buildings of two-story, walk-up style apartments of wood frame and stucco construction. The 16 units, including 14 two-bedroom apartments and two one-bedroom units, range from 600 sf to 900 sf, with rents ranging from $650 to $975.

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