SANGER, Calif.--(BUSINESS WIRE)--The Mogharebi Group (“TMG”) has completed the sale of Tangerine Hill, a 125-unit community that is located on Bethel Ave in Sanger, CA. The property sold for a sales price of $14.7 million.
“Due to the newer build and proven ‘value-add’ repositioning upside, Tangerine Hill was highly attractive to investors. As a result, there was a significant amount of buyer interest,” says Robin Kane, Executive Vice President of The Mogharebi Group. “We generated multiple offers from our network of private high net worth and 1031 exchange buyers and closed in 45 days.”
Built in 1991, Tangerine Hill Apartments is a two-story, 125-unit apartment community that is located at 360 Bethel Ave in Sanger, CA. The property comprises 35 buildings totaling 109,374 square feet and is situated on an approximately 8.61-acre site. Tangerine Hill Apartments features spacious one-, two- and three-bedroom apartment units. The property features secured access, leasing office, multi-sport game court, outdoor BBQ/Picnic area and reserved covered parking.
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, a fully integrated platform, 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.