$11 Million Purchase to Bring ±281 New Multi-Family Units to Riverside, California

Fifield Companies purchased 10 acres for $11 Million with plans to build ±281 new apartment units.

Riverside, California (March 30, 2023) – Land Advisors Organization is pleased to announce the sale of La Sierra, a 10.06-acre site located in Riverside, CA. The buyer, Fifield Companies, a real estate investment and development company, purchased the property for $11 Million.

The Inland Empire’s supply-demand imbalance has fueled strong rent growth and, in turn, strong demand for land that can be developed into multi-family apartment sites. La Sierra was upzoned as part of the City of Riverside’s Phase 1 General Plan Update, adopted in October 2021.

Fifield Companies is currently entitling the property for a three and four-story apartment complex. The future apartment community will feature ±281 units ranging from one to three bedrooms. The community amenities include a recreation center with a pool, fitness center, dog park, and other open spaces. This new community will help meet the City’s growing housing needs.

Land Advisors Organization’s West Riverside County Team consisting of Andrew Sinderhoff, Ian Sinderhoff, and Brian Carricaburu, co-brokered the transaction with Byron Foss of JLL and represented the Seller, Tony and Armida Padilla 2002 Trust, and Buyer, Fifield Companies in this transaction.

About Land Advisors Organization

Founded in 1987, Land Advisors Organization is the nation’s largest land brokerage firm specializing in providing deep market insights to landowners and purchasers for the most comprehensive and effective evaluation of land in markets across the country. By integrating current local market information with cutting-edge technology and geographically specialized professionals, Land Advisors Organization advises clients in identifying and capitalizing on valuable land opportunities in all economic environments. Land Advisors Organization serves landowners and purchasers from offices in Phoenix, Tucson, Casa Grande, and Prescott, Arizona; Irvine, San Francisco, Century City, Pasadena, Roseville, and San Diego, California; Orlando, Jacksonville, and Tampa Bay, Florida; Atlanta, Georgia; Charlotte, North Carolina; Nashville, Tennessee; Boise, Idaho; Las Vegas, Nevada; Albuquerque, New Mexico; Austin, Houston and Dallas-Fort Worth, Texas; Salt Lake City, Utah; Kansas City, Kansas; and Seattle, Washington. Stay connected with us on Twitter, Facebook, and LinkedIn.

Media Contacts

Land Advisors Organization

Lindsey Boulé
lboule@landadvisors.com