Pro Residential Services Acquires 162-Unit Multifamily Property In Mojave For $8.9M

The property involved in this transaction is Park Palace Apartments, a 162-unit affordable housing property located at 16193 and 16197 H Street in Mojave. The sale price for this multifamily asset was $8,900,000, equating to a price per unit of $54,938. The apartments were built in 2007 and 2011 and are part of a Low-Income Housing Tax Credit community, which maintains approximately 55 years of affordability restrictions under a regulatory agreement.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,900,000
• Units: 162
• Price Per Unit: $54,938
• Buyer: Pro Residential Services
• Seller: Park Plaza One Apts LP
• Broker: Cray Carlson - CBRE
• Date of Transaction: 02/19/2026
• Address: 16193 & 16197 H Street, Mojave

Cray Carlson of CBRE represented both Pro Residential Services and Park Plaza One Apts LP in this transaction. The property continues to uphold its commitment to affordable housing within the local market, ensuring its accessibility for residents in the coming decades.