SANGER, CA — The Mogharebi Group, (“TMG”) has completed the sale of Tangerine Hill, a 125-unit community located on Bethel Avenue 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.”
Robin Kane and Brendan Kane of The Mogharebi Group represented the Buyer, a private investor, based in Central Valley, California.
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, a leasing office, a multi-sport game court, outdoor BBQ / picnic area, and reserved covered parking.