FULLERTON, CA – The Mogharebi Group ("TMG") has completed the sale of Valencia Terrace Apartments, an 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 from numerous retail shopping plazas, restaurants, Fullerton College, and California State University Fullerton.