HACSB Acquires 60-Unit Multifamily Community In Victorville For $8.5M

The Mogharebi Group brokered the sale of Northport, a 60-unit multifamily community located at 14243 Rodeo Drive in Victorville, California. The property spans 3.26 acres and was sold for a total price of $8,500,000, resulting in a per unit price of $141,667. This transaction took place on 12/04/2023 and involved the Housing Authority of the County of San Bernardino (HACSB) as the buyer.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,500,000
• Address: 14243 Rodeo Drive
• Market: Victorville
• Asset Type: Multifamily
• Acres: 3.26
• Buyer: Housing Authority of the County of San Bernardino (HACSB) - Rishad Mitha
• Broker: Otto Ozen - The Mogharebi Group
• Units: 60
• PPU: $141,667

This sale attracted significant attention in the market, with 18 offers submitted for the highly sought-after two-bedroom units at Northport. The Housing Authority of the County of San Bernardino aims to expand affordable housing options in the region through this acquisition.