Elements 1600

THE MOGHAREBI GROUP is pleased to present the opportunity to acquire Elements @1600, a 120-unit multifamily community located in the city of Fairfield California. Built in 1964 and situated on 4.04 acres, the property is comprised of 15, two-story eightplex buildings that house a unit mix consisting primarily of two-bedroom / one-bathroom floorplans ranging from 800 to 875 square feet. The community offers renovated common area amenities including a swimming pool with cabanas, expansive green space, a children’s playground, outdoor picnic area with barbeques, courtyards, walkways, laundry facilities, and electric vehicle charging stations. Elements @ 1600 provides an opportunity to continue a proven value-add strategy by modernizing unit interiors that will drive tenant traffic and spur rent growth as renovated properties in the area achieve significant rent premiums, which supports overall market upside potential. The Fairfield area also has a significant rent versus buy affordability gap with a median home price of $568,298 and an average monthly home cost of over $3,000. Additionally, the property’s 15 eightplex buildings are situated on individual parcels, providing additional exit strategy alternatives.