The Chestnut Apartments in San Bernardino, a value-add multifamily property with 68 units, has been sold for $8.2 million. This property, located at 1398 North Sierra Way, was represented by Douglas McCauley and David Covarrubias of Marcus & Millichap. The sale was facilitated by Marcus & Millichap, who brokered the transaction on behalf of the limited liability company that owned the property.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,200,000
• Address: 1398 North Sierra Way
• Market: San Bernardino
• Brokers: Douglas McCauley & David Covarrubias - Marcus & Millichap
• Units: 68
• Price Per Unit: $120,588

Douglas McCauley and David Covarrubias of Marcus & Millichap played a key role in facilitating the sale of the Chestnut Apartments in San Bernardino. Both brokers represented the limited liability company that owned the property throughout the transaction. Their expertise and negotiation skills helped secure the successful sale of this value-add multifamily asset.