Updated Oct 13, 2026
Daniel James Of Convenient Holdings Acquires Multifamily Property From Duane Andrews For $46M In Ontario
1037 Archibald Avenue
$46,000,000
Units
125
Asset Type
MultiFamily
Closing
Feb 14, 2025
About this deal
AI
Rancho Vista Apartments is a 125-unit multifamily property located at 1037 North Archibald Avenue in Ontario, CA. The property was sold for $46,000,000, resulting in a price per unit of $368,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $46,000,000
- Units: 125
- Buyer: Daniel James - Convenient Holdings
- Seller: Duane Andrews - Clear Capital
- Brokers: Alexander Garcia Jr, Kyle Pinkalla, Christopher Zorbas, Gregory Harris, Joseph Grabiec & Kevin Green - Institutional Property Advisors - Marcus & Millichap
Institutional Property Advisors facilitated the transaction, representing the seller, Clear Capital, in the sale of the multifamily asset to the buyer, Convenient Holdings. The team of brokers included Alexander Garcia Jr., Kyle Pinkalla, Christopher Zorbas, Greg Harris, Joseph Grabiec, and Kevin Green.
On the Map
$46,000,000
MultiFamily
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Players
Ontario MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93