LaTerra Development Acquires Multifamily Property In Riverside County For $8.2M

An apartment complex located at 2700 N. Perris Boulevard in Riverside County has been sold for $8,200,000. The multifamily property, consisting of 228 units, spans over a total area of 701,316 square feet. The purchase price per unit amounts to $35,964, while the price per square foot is $11.69.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $8,200,000
• Address: 2700 N. Perris Boulevard, Riverside County
• Market: Riverside County
• Units: 228
• Price Per Unit (PPU): $35,964
• Square Footage (SF): 701,316
• Price Per Square Foot (PPSF): $11.69

The seller of the property was JD Pierce, and the buyer was LaTerra Development, with Chris Tourtellotte representing the buyer. The sale was facilitated by brokers Justin Woodworth and Justin Esayian of The Hoffman Company.