The Mogharebi Group (“TMG”) has completed the sale of Oak Valley Apartments, a 109-unit community, in Tulare. The property sold for $15,660,000 with multiple offers. Alex Mogharebi, Otto Ozen, Robin Kane, Brendan Kane and Mark Bonas of The Mogharebi Group represented the seller, IDEAL Capital Group based in Central California. The buyer was a private investor, based in Southern California.
“The property is a recently renovated high quality asset with a strong unit mix with proven upside. This Central Valley community presents solid upside-value,” said Otto Ozen, Executive Vice President of The Mogharebi Group. “Through our proprietary 1031 exchange platform that includes a robust network of private high net-worth and exchange buyers, we were able to drive the value and successfully close.”
Built on a 7.06-acre site in 1988, Oak Valley Apartments is located at 2001 East Cross Avenue in Tulare. The property has great exposure