SOLD
TMG Facilitates $42.7M Sale Of Modesto's Edge At Lakewood Apartments
1401 Lakewood Avenue
MultiFamily
Sold 120 days ago
Summary
Sale
CALIFORNIA
MultiFamily
The Mogharebi Group (TMG) orchestrated the $42.7 million sale of Edge at Lakewood Apartments, a 196-unit community in Modesto, CA. This transaction marks the largest multifamily sale in California's Central Valley in 2023. The property, located at 1401 Lakewood Avenue, spans across 7.63 acres and offers affordable housing options in a desirable location.
Summary of Transaction Details
- Property Type: Multifamily
- Sale Price: $42,700,000
- Number of Units: 196
- Price per Unit: $217,857
- Address: 1401 Lakewood Avenue
- Market: Modesto
The sellers of Edge at Lakewood Apartments were Olivia John from Osso Capital and Joe Muratore from Graceada Partners. The buyer was not disclosed in the provided information. Otto Ozen from The Mogharebi Group represented the sellers as the broker in this transaction. The sale of this multifamily property highlights the region's investor appeal, driven by factors such as affordability, proximity to the Bay Area, and the demand for housing in the hybrid work environment.
Players
All
2
Agents
1
Agencies
1
Details
SOLD
IMAGE: Joe Muratore, Olivia John & Otto Ozen
DATE: 01/04/2024
ADDRESS: 1401 Lakewood Avenue
MARKET: Modesto
ASSET TYPE: Multifamily ~ ACRES: 7.63
SELLER: Olivia John - Osso Capital; Joe Muratore - Graceada Partners
BROKER: Otto Ozen - The Mogharebi Group
SALE PRICE: $42,700,000
UNITS: 196 ~ PPU: $217,857
NOTE: The Mogharebi Group (TMG) orchestrated the $42.7 million sale of Edge at Lakewood Apartments, a 196-unit community in Modesto, CA, the largest multifamily transaction in California’s Central Valley in 2023. TMG highlights the region's investor appeal due to affordability, proximity to the Bay Area, and its relevance in the hybrid work environment.View on map
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Address1401 Lakewood Avenue
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