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SAN BERNARDINO, CALIF. — Marcus & Millichap has brokered the sale of Chestnut Apartments, a multifamily property located at 1398 N. Sierra Way in San Bernardino. A limited liability company sold the asset to an individual/personal trust for $8.2 million.
Constructed in 1949, the value-add community features 68 apartments spread across 17 two-story residential buildings. The property offers 36 one-bedroom/one-bath units, 32 two-bedroom/one-bath units, an exterior fence, a courtyard and 72 carport parking spots. All apartments feature individual hot water heaters and wall air conditioning units.
Douglas McCauley and David Covarrubias of Marcus & Millichap represented the seller and buyer in the transaction.