The Reserve near Downtown Fresno has been sold to a Southern California investor for $10 million. Photo via loopnet.com

A 76-unit apartment complex near Downtown Fresno has been sold for $10 million to a Southern California investment group.

The sale breaks down to $131,000 per unit and $119 per square foot.

The Reserve is located at 220 South Callisch Ave., just south of Tulare Avenue and east of Highway 41. Built in 1968, The Reserve has two-, three- and four-bedroom, extra-large units, according to a news release from The Mogharebi Group, whose agents Robin and Brendan Kane represented the Southern California-based seller.

With amenities including a pool and spa, on-call maintenance, on-site laundry facility and controlled access capabilities, The Reserve is within walking distance to Downtown Fresno, “filled with a plethora of dining and nightlife options, high-end shopping, and unique architecture,” according to the release.

The demand for rental property has skyrocketed in Fresno, drawing the attention of investors.

“Fresno has been a top five market in the nation for Year-Over-Year Rent Growth. The Reserve presented a phenomenal opportunity given its unit mix of two-, three- and four-bedroom units,” said Robin Kane of The Mogharebi Group. “The Reserve’s prime location between 8 schools and the nearby downtown makes this a highly attractive locale for investors.”