BELLFLOWER, Calif.--(BUSINESS WIRE)--The Mogharebi Group ("TMG") has completed the sale of Woodcliff Apartments, a 33-unit community in Bellflower. The property sold for $11,160,000 with numerous offers. Brett Bayless and Keon Truth of The Mogharebi Group represented the seller, a Southern California-based investor.
"The property is 100% occupied with solid cash flow and value-add upside. As a result, this Bellflower community presented the Buyer with a tremendous opportunity to increase his returns and add to his total number of units owned in the Gateway Cities", said Brett Bayless, Senior Vice President of The Mogharebi Group. " It was our proprietary platform, of private high net-worth and exchange buyers, that ultimately procured a private investor who was able to purchase this asset with refinance capital.”
Built-in 1965, Woodcliff Apartments is located at 15147 Woodruff Place in Bellflower. The property comprises two single story residential buildings totaling 29,625 rentable square feet. The apartment homes feature spacious 2- and 3-bedroom floor plans with an average size of 898 square feet. The property is within walking distance to Top Schools, Including St John Bosco High School, Bellflower High / Middle School, Woodruff Elementary, and a short drive to numerous retail shopping plazas, restaurants, and Cerritos College.
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
