SACRAMENTO, Calif.--(BUSINESS WIRE)--The Mogharebi Group, (“TMG”) has completed the sale of The Regency Apartments, a 130-unit community on Riza Avenue, in Sacramento, CA. The properties sold for $15,800,000 with multiple offers. Alex Mogharebi and Otto Ozen of TMG represented the seller, a Sacramento based investor. The buyer was a private investor based in the Bay Area.
“The property attracted a lot of interest because of the high yield. As a result, we received multiple offer, all near the list price, from many buyers. We successfully closed near full list price,” says Otto Ozen, Executive Vice President of The Mogharebi Group. “Our ability to tap into our large pool of existing clients made a significant impact in maximizing the offer amounts received.”
Built on a 5.4-acre site in 1969, The Regency is located at 5900 Riza Avenue. The community features an attractive mix of 31% one-, 53% two-, and 16% three-bedroom units and it is commutable to over 1.2 Million Jobs. Easy access to jobs provides an increasingly robust tenant base.
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.