KERMAN, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Apartments?src=hash” target=”_blank”gt;#Apartmentslt;/agt;–The
Mogharebi Group, (“TMG”) has completed the sale of Golden
Meadows, a 196-unit community that is located on West California
Avenue in Kerman, CA. The property sold with multiple offers for a sales
price of $16.9 million. The buyer was a private investor based
out of the Bay Area.
“Due to the high quality of the community, low price per unit, and high
cash-on-cash return, the buyer pool was large,” says Otto Ozen, Executive
Vice President of TMG. “We were able to generate
multiple offers from our pool of private investors in exchange,
ultimately selling for near full price.” Mr. Ozen concluded, “The
property represented a great value with solid upside that required a
special buyer to realize its full potential.”
Otto Ozen of TMG represented the seller, a private
investment group located in the Orange County, and the Kerman based
buyer.
Built in 1988 and 1991, Golden Meadows is a one and two story, 196-unit
apartment community that is located on West California Avenue in Kerman,
CA. The property comprises 24 residential buildings totaling 128,910
rentable square feet, and 3 common area buildings. The complex is
situated on an approximately 7.94-acre site. The apartment community
features spacious studio, one, two and three-bedroom floor plans with an
average size of 658 square feet. The property features 2 large sparkling
pools, outdoor BBQ/Picnic area, reserved covered parking, and 2 on-site
laundry facilities. It is walking distance to numerous jobs.
With unrivaled local knowledge, an extensive global network of top real
estate investors, state of the art technology, and direct access to
capital, The Mogharebi Group is the best choice to meet the needs of
major private investors and investment funds.
Contacts
The
Mogharebi Group
Otto
Ozen | 909.235.7889
Executive Vice President
[email protected]
