In a successful transaction, Institutional Property Advisors (IPA), a division of Marcus & Millichap, has sold Rancho Vista Apartments in Ontario. The multifamily property consists of 125 units and was purchased for $46,275,000 at an average price of $370,200 per unit.
According to Alexander Garcia Jr., IPA’s executive managing director, the sale is significant as it marks one of the first major transactions in the highly desirable submarket since 2024 when there were few sales over 100 units.
Garcia and his team at IPA including Kyle Pinkalla, Chris Zorbas Kevin Green Joseph Grabiec and Gregory Harris represented Clear Capital -the seller- while also securing Convenient Holdings as the buyer.
Built in 1984,Rancho Vista Apartments offers spacious two- and three-bedroom floor plans with an average size of1 ,022 square feet. Each unit features direct access to a two-car garage with washer/dryer connections,private balconies off master bedrooms,and central air conditioning/heat for added comfort. This sale marks another successful divestment by Clear Capital from their portfolio.
