FULLERTON, Calif.--(BUSINESS WIRE)--The Mogharebi Group ("TMG") has completed the sale of Valencia Terrace Apartments, a 11-unit community in Fullerton. The property sold for $3,795,000 with multiple offers. Brett Bayless of The Mogharebi Group represented the seller, a southern California based investor.
"The property is a high-quality turnkey asset in an excellent Fullerton, CA location. Furthermore, the asset was 100% occupied with strong cash flow throughout the Covid-19 pandemic. As a result, this Fullerton community perfectly fit the Buyer’s investment criteria, allowing them a tremendous opportunity to increase their investment real estate holdings with a high-quality asset," said Brett Bayless, Senior Vice President of The Mogharebi Group. "It was our proprietary 1031 exchange platform, of private high net-worth and exchange buyers, that ultimately procured a private investor.”
Built in 1990, Valencia Terrace Apartments is located at 3902 W. Valencia Drive in Fullerton. The property totals 10,330 rentable square feet with spacious 2-bedroom 2 Bath floor plans of an average size of 939 square feet. The property is a short distance to numerous retail shopping plazas, restaurants, Fullerton College and California State University Fullerton.
About The Mogharebi Group (TMG): The Mogharebi Group is a brokerage firm specializing in the multifamily property sector throughout California. 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.
For more information visit: Mogharebi.com
