BELLFLOWER, CA – 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 perfectly fit their investment criteria", 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 who was in a 1031 Exchange and purchased the property as his up-leg.”
Built-in 1965, Woodcliff Apartments is located at 15147 Woodruff Place in Bellflower. The property comprises two 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.