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Eric Chen & Blake Torgerson Broker 7440-7458 Magnolia Multifamily Sale In Riverside For $5.44M

7440-7458 Magnolia Avenue
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This MultiFamily property located in CA was sold for $5,440,000 about 3 years ago. The brokers of the deal were Eric Chen and Blake Torgerson

A multifamily property located at 7440-7458 Magnolia Avenue in Riverside was recently sold. The transaction took place on 02/23/2021 and was facilitated by brokers Eric Chen and Blake Torgerson. The property consists of 32 units with a total square footage of 19,222. The sale price for this multifamily asset was $5,440,000, resulting in a per unit price of $170,000. The price per square foot was $283, and the cap rate for the property was recorded at 4.42%.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,440,000
  • Address: 7440-7458 Magnolia Avenue, Riverside
  • Market: Riverside
  • Brokers: Eric Chen - Blake Torgerson
  • Units: 32
  • Price per unit: $170,000
  • Square Footage: 19,222
  • Price per square foot: $283
  • Cap Rate: 4.42%

Eric Chen and Blake Torgerson served as the brokers for this transaction. They played an essential role in connecting the buyer and seller and facilitating the successful sale of the multifamily property in Riverside. Their expertise in the market and negotiation skills contributed to the overall smoothness of the deal.

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Deals
  • Location
    7440 Magnolia Avenue, Riverside, CA, USA7440 Magnolia Avenue, Riverside, CA, USA
  • Sale Price
    $5,440,000$5,440,000
    $283 PPSF$283 PPSF
  • Area
    19,222 SF19,222 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Eric Chen

Eric Chen

Deals55
Sold$597.4M

Blake Torgerson

Blake Torgerson

Deals24
Sold$183M

Agency

CBRE

CBRE

Agency
Deals4231
Volume$184.3B

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Deal Summary

SALE IMAGE: Eric Chen & Blake Torgerson DATE: 02/23/2021 ADDRESS: 7440-7458 Magnolia Avenue MARKET: Riverside ASSET TYPE: Multifamily BROKERS: Eric Chen @Eric_C_Chen & Blake Torgerson @BlakeTorg32 SALE PRICE: $5,440,000 UNITS: 32 ~ PPU: $170,000 SF: 19,222 ~ PPSF: $283 CAP RATE: 4.42%

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7440-7458 Magnolia Avenue

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