The Mogharebi Group ("TMG") has completed the sale of Willow Creek, a 33-unit apartment community located in El Cajon, California. The property sold with multiple offers at a price of $8.55 million. Alex Mogharebi and Otto Ozen of The Mogharebi Group represented the seller, a Southern California-based investor. The buyer was a private investor also based in Southern California.
"Willow Creek Apartments is a fully remodeled, turnkey asset," said Otto Ozen, Executive Vice President of The Mogharebi Group. "As a result, there was a high level of interested buyers for this asset. However, it was our proprietary 1031 exchange platform that includes an extensive network of private high net-worth and exchange buyers that ultimately drove the value and successfully closed during the COVID-19 pandemic."
Built in 1987, Willow Creek is a three-story, 33-unit apartment community that is located on 8410 Los Coches Road. The property comprises two residential buildings totaling 31,800 rentable square feet and is situated on a 1.1-acre site. The apartment homes feature spacious two and three-bedroom floor plans. The property boasts a sparkling swimming pool, pristine hillside views and covered parking. Interiors were upgraded with quartz countertops, stainless appliances, A/C, new flooring, accented painted interiors, and in-unit washer / dryers.
About The Mogharebi Group (TMG): The Mogharebi Group is a brokerage firm specializing in the multifamily property sector throughout California. With unrivaled local knowledge, an extensive global network of top real estate investors, state of the art technology, and direct access to capital, The Mogharebi Group is the best choice to meet the needs of major private investors and investment funds.
For more information visit: Mogharebi.com