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The Mogharebi Group Facilitates $4.6 Million Sale Of College Apartments In Fresno, CA

Property Image
SOLD
$4,600,000
Robin Kane
Brendan Kane

California

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MultiFamily
Sold 12/12/2023
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Property Image
SOLD

The Mogharebi Group Facilitates $4.6 Million Sale Of College Apartments In Fresno, CA

4550 East Sierra Madre Avenue & 4596 East Sierra Madre Avenue

See Similar Deals
MultiFamily
Sold 12/12/2023
Robin Kane
Brendan Kane
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The Mogharebi Group (TMG) facilitated the sale of College Apartments, a 40-unit multifamily property located at 4550-4596 East Sierra Madre Avenue in Fresno, CA. The property was sold for $4,600,000, with a price per unit of $115,000. The transaction took place on 12/12/2023.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $4,600,000
  • Units: 40
  • Price Per Unit: $115,000
  • Address: 4550-4596 East Sierra Madre Avenue, Fresno, CA
  • Market: Fresno

The sale of College Apartments in Fresno, CA was part of a complex six-property reverse 1031 exchange. TMG's Robin Kane and Brendan Kane, representing the Central Valley investor, assisted in selling smaller assets and acquiring two larger Fresno communities. These separate transactions involved a total of 137 units and approximately $20 million.

Players

Robin Kane
NorthMarq
Robin Kane
5 deals$120.3M volume(559) 552-0040
BROKER
Brendan Kane
NorthMarq
Brendan Kane
5 deals$120.3M volume(559) 552-0041
BROKER

Details

SOLD
IMAGE: Brendan Kane & Robin Kane DATE: 12/12/2023 ADDRESS: 4550-4596 East Sierra Madre Avenue MARKET: Fresno ASSET TYPE: Multifamily BROKERS: Brendan Kane & Robin Kane - The Mogharebi Group SALE PRICE: $4,600,000 UNITS: 40 ~ PPU: $115,000 NOTE: The Mogharebi Group (TMG) facilitated the $4.6 million sale of College Apartments, a 40-unit property in Fresno, CA, concluding a complex six-property reverse 1031 exchange. TMG's Robin Kane and Brendan Kane assisted the Central Valley investor in selling smaller assets and acquiring two larger Fresno communities, totaling 137 units and approximately $20 million in separate transactions.

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

$245,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,806.35
Annual Debt Service$261,676.16