Convenient Holdings Buys Property in Ontario, California, for $46.3 Million

ONTARIO, CALIF. — Convenient Holdings has acquired Rancho Vista Apartments, a 125-unit community in Ontario, roughly 40 miles east of Los Angeles. Clear Capital sold the asset for $46.3 million. Built in 1984, Rancho Vista Apartments features two- and three-bedroom floor plans. The average unit size is 1,022 square feet. Amenities include a pool, cardio and weight training center, picnic area with barbeque grills, gated access and on-site maintenance.

Alexander Garcia, Kyle Pinkalla, Chris Zorbas, Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.