Inland Empire Multifamily Complex Sells for $19 Million in Victorville, CA

VICTORVILLE, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Riverton of the High Desert, a 220-unit luxury apartment complex located in Victorville, the Victor Valley’s largest city. The $19 million sales price equates to $86,364 per unit.

            Alexander Garcia, Jr., a senior vice president investments in Marcus & Millichap’s Ontario, Calif. office, and Shane McConnell, an associate vice president investments in the firm’s Newport Beach, Calif. office, represented the seller, a developer. Garcia, McConnell and Ron Harris, an executive vice president investments in Los Angles, represented the buyer, a private investor.

Alexander Garcia Jr.

            “Riverton of the High Desert is one of the top multifamily assets in the Victor Valley,” says Garcia. “The property features high-quality construction and amenities, stable operations and a desirable location within an improving rental market.”

            Built in 2008 on 11 acres at 14374 Borego Road in Victorville, the property is located near Palmdale Road, which provides direct access to the greater Victor Valley area and to Interstate 15.

Shane McConnell

            Riverton of the High Desert is comprised of 15 two-story residential buildings and one single-story leasing and management office that also houses the business and fitness centers.

The grounds are extensively landscaped with lush grass, maturing shade trees and water-friendly shrubs and ground cover. Community amenities include a pool surrounded by a large furnished sundeck, an in-ground spa and a small trellis-covered sitting area.

All units feature nine-foot ceilings, fully equipped kitchens, central heating and air conditioning, full-sized washers and dryers, individual hot water heaters and a large private patio or balcony.

Victorville is 37 miles east of San Bernardino over the Cajon Pass on the southwestern edge of the Mojave Desert. The Victor Valley also includes the towns of Apple Valley, Hesperia, Adelanto and Barstow.

For a complete copy of the company’s news release, please contact:

Ben Johnson,

Marketing Director

(925) 953-1736