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The Mogharebi Group Facilitates $50.5M Sale Of The Landing Apartments In Ontario, CA

Property Image
SOLD
$50,500,000
Bryan Labar
Otto Ozen
Alex Mogharebi

California

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MultiFamily
Sold 05/10/2023
the dealplayerscompscontact
Property Image
SOLD

The Mogharebi Group Facilitates $50.5M Sale Of The Landing Apartments In Ontario, CA

3364 Honeybrook Way Ontario, CA 91761, USA

See Similar Deals
MultiFamily
Sold 05/10/2023
Bryan Labar
Otto Ozen
Alex Mogharebi
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The Mogharebi Group (TMG) has facilitated the sale of The Landing Apartments, a 156-unit multifamily community in Ontario, California. The property was sold for $50.5 million to a Los Angeles-based investor. It features a mix of one- and two-bedroom units and includes amenities such as a pool, spa, and tennis court. The property is located at 3364 Honeybrook Way, Ontario, CA 91761, USA.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $50.5 million
  • Number of Units: 156
  • Price per Unit: $323,717.95
  • Total Square Footage: 0
  • Price per Square Foot: Infinity

The Landing Apartments was owned by an Orange County-based family for over two decades before being sold to the Los Angeles-based investor. The sale was facilitated by The Mogharebi Group (TMG).

Players

Alex Mogharebi
The Mogharebi Group
Alex Mogharebi
8 deals$280.4M volume
BROKER
Otto Ozen
The Mogharebi Group
Otto Ozen
24 deals$670.7M volume
BROKER
Bryan Labar
Bryan Labar
5 deals$231.2M volume
BROKER

Details

SOLD
IMAGE: 2023-05-10 ADDRESS: 3364 Honeybrook Way Ontario, CA 91761, USA MARKET: ASSET TYPE: MultiFamily BUYER: SELLER: BUYER'S REP: SELLER'S REP: BROKERS: SALE PRICE: 50500000.0 UNITS: 156 ~ PPU: 323717.95$ SF: 0 PPSF: Infinity$ NOTE: The Mogharebi Group (TMG) has facilitated the sale of The Landing Apartments, a 156-unit multifamily community in Ontario, California, for $50.5 million. The property, which features a mix of one- and two-bedroom units along with amenities like a pool, spa, and tennis court, was sold to a Los Angeles-based investor by an Orange County-based family that had owned the property for over two decades.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$179,415.84
Cash-on-Cash Return-1.27%
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