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WHITTIER, CA –The Mogharebi Group ("TMG") has completed the sale 6248-6252 Greenleaf Apartments and 11517 Obert Ave Apartments, two separate communities in Whittier, CA. The properties sold for a total of $5,050,000 with multiple competing offers. Brett Bayless of The Mogharebi Group represented the seller, a Los Angeles native.
"Both properties are newer construction class B assets with solid in-place cashflow and rental upside. These two assets presented the Buyer with a tremendous opportunity to increase their returns and perfectly fit their investment criteria", said Brett Bayless, Senior Vice President of The Mogharebi Group. "It was our breadth of longstanding relationships across the spectrum of investors, from private high net worth and exchange buyers to multinational institutions, that ultimately allowed us to procure a buyer who’s goals were accomplished and simultaneously achieve the seller’s expectations.”
Built in 1928, 6248 Greenleaf is an 11 unit (1 non-conforming) 1 and 2 story apartment complex located in Whittier, California. It is nine residential buildings situated on a 0.31-acre parcel, with 6 garages available for residents to rent. There are 8 individual 1 bedroom cottages, two 2 bedroom units, and one 2 bedroom unit totaling 5,454 square feet of rentable area.
Built in 1961, 11517 Obert is a 10-unit 2 story apartment complex located in Whittier, California. It is 1 building on a 0.24-acre parcel with 6 covered parking spots for residents. The complex is comprised of 6 renovated (four 2 bedroom and two 2 bedroom) and 4 unrenovated units (1-bedroom units) totaling 12,876 rentable square feet averaging 685 square feet.
WHITTIER, CA –The Mogharebi Group ("TMG") has completed the sale 6248-6252 Greenleaf Apartments and 11517 Obert Ave Apartments, two separate communities in Whittier, CA. The properties sold for a total of $5,050,000 with multiple competing offers. Brett Bayless of The Mogharebi Group represented the seller, a Los Angeles native.
"Both properties are newer construction class B assets with solid in-place cashflow and rental upside. These two assets presented the Buyer with a tremendous opportunity to increase their returns and perfectly fit their investment criteria", said Brett Bayless, Senior Vice President of The Mogharebi Group. "It was our breadth of longstanding relationships across the spectrum of investors, from private high net worth and exchange buyers to multinational institutions, that ultimately allowed us to procure a buyer whose goals were accomplished and simultaneously achieve the seller’s expectations.”
Built in 1928, 6248 Greenleaf is an 11-unit (1 non-conforming) 1 and 2-story apartment complex located in Whittier, California. It is nine residential buildings situated on a 0.31-acre parcel, with 6 garages available for residents to rent. There are 8 individual 1-bedroom cottages, two 2-bedroom units, and one 2-bedroom unit totaling 5,454 square feet of rentable area.
Built in 1961, 11517 Obert is a 10-unit 2-story apartment complex located in Whittier, California. It is 1 building on a 0.24-acre parcel with 6 covered parking spots for residents. The complex is comprised of 6 renovated (four 2 bedroom and two 2 bedroom) and 4 unrenovated units (1-bedroom units) totaling 12,876 rentable square feet averaging 685 square feet.
