The Mogharebi Group (TMG) completed the sale of Country Club Apartments, a 79-unit community located at 160 East Parkdale Ave. in San Bernardino, CA. The property, built on a 5.44-acre site in 1986, sold for $9.6 million.
TMG’s Alex Mogharebi says, “The property is in the desirable CSU submarket of San Bernardino that has been seeing some solid rent growth the last couple years. Country Club was particularly appealing to the buyer because of its large floor plans with washer/dryer hookups making it conducive for a value-add strategy.”
Mogharebi and Otto Ozen represented the seller, an unnamed Orange County based private equity group, as well as the the buyer, an undisclosed Los Angeles based syndicator.