CBRE Arranges $10.95 Million All-Cash Sale of 67-Unit Mountain View Apartments in San Bernardino
CBRE has arranged the $10.95 million all-cash sale of Mountain View Apartments, a 67-unit multifamily community located at 1475 East Date Street in San Bernardino, California. The firm represented both the buyer and seller in the transaction, which closed at a 6.43% current capitalization rate.
The seller was Mountain View Apts LLC. The buyers were Amusement Industry, Inc. and Westland Properties Thirteen LLC. The transaction was arranged by Eric Chen, Executive Vice President at CBRE. The deal equated to $163,433 per unit and approximately $208 per square foot, based on a rentable area of 52,572 square feet.
Property Details
Mountain View Apartments sits on a 104,544-square-foot land parcel and comprises nine residential buildings constructed in 1985. The community offers a mix of one- and two-bedroom units with an average unit size of 776 square feet. The property was 95% occupied at the time of sale.
The gated community includes amenities such as a swimming pool, landscaped grounds, on-site laundry facilities and dedicated on-site management. Individual units feature central air conditioning and heating, dishwashers and walk-in closets, with select units offering vaulted ceilings and private balconies or patios.
The property's location provides access to State Route 210, Interstate 215 and Interstate 10, and sits in proximity to California State University, San Bernardino, Dignity Health-St. Bernardine Medical Center and the San Bernardino Metrolink Station.
Transaction Commentary
"Mountain View Apartments presented investors with the opportunity to acquire a well-maintained multifamily asset in one of the Inland Empire's most established rental markets," said Chen. "The property's strong in-place operations, attractive unit mix and potential for future rental growth generated significant interest from qualified buyers."
Inland Empire Multifamily Market Context
The sale reflects continued investor interest in pre-1990 multifamily assets in the Inland Empire, where older product at accessible price points has drawn capital amid a selective investment environment. The Inland Empire multifamily market posted 96.0% occupancy in the second quarter of 2026, up 50 basis points quarter over quarter, with investment sales totaling $82.0 million in the quarter and activity concentrated in pre-1990 assets as buyers targeted lower-entry-basis opportunities.
Vacancy in the Inland Empire eased to 5.6% in the second quarter of 2026, while average asking rents reached $1,984 per unit per month, a 1.07% increase year over year. Supply pressure in the market is also easing, with approximately 2,900 units scheduled for delivery in 2026, down 27% from 2025 levels.
Nationally, multifamily remained the largest commercial real estate investment sector in the second quarter of 2026, accounting for 27% of total investment volume. U.S. multifamily investment volume reached $34.9 billion in the quarter, a 2.7% decline year over year. Cap rates are expected to remain largely stable through 2026 given benchmark interest rates, with incremental compression more likely in 2027 as fundamentals improve.
About the Parties
CBRE is a commercial real estate services and investment firm. Eric Chen serves as Executive Vice President within CBRE's investment sales platform. Amusement Industry, Inc. and Westland Properties Thirteen LLC served as co-buyers in the transaction. Mountain View Apts LLC was the seller of record.
Sources: CBRE Press Release