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Costa Mesa, CA (May 10, 2022) — The Mogharebi Group (TMG) representing the seller, MB Cambridge Management, has arranged the $4.9 million sale of Cambridge Court, a 42-unit multifamily community in the Central Valley community of Visalia, CA. The buyer of the property is a private investment group from nearby Santa Barbara.
Built in 1965, Cambridge Court is a two-story, 42-unit apartment community located at 4040 E Dakota Ave. The property comprises 4 residential buildings totaling 31,200 rentable square feet. The complex is situated on a 1.43-acre site, for a comfortable density of 29.4 units per acre.
“The Central Valley has long been thought of as strictly an agricultural area, but that is only one part of its economic story,” said TMG Senior Vice President Robin Kane. “With a significant supply/demand imbalance and no planned development within a three-mile radius of the property, we were able to demonstrate the potential for future rent growth, which resulted in interest from a large number of buyers that included private and institutional investors,” Kane added.
