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8121 Broadway Avenue
SOLD

The Mogharebi Group Facilitates $31.25M Sale Of Citrus Court Multifamily In Whittier, CA

8121 Broadway Avenue

MultiFamily
clock iconSold 261 days ago
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Summary

Sale
CALIFORNIA
MultiFamily

The Citrus Court, a 138-unit apartment community located at 8121 Broadway Avenue in Whittier, CA, has been sold for $31.25 million. The property, facilitated by The Mogharebi Group (TMG), was successfully closed by TMG's broker representative, Otto Ozen, within a 90-day period. Despite challenges related to a ground lease, the sale was completed, highlighting the increasing interest of investors in the affordability, good schools, and proximity to employment hubs that Whittier offers.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $31,250,000
  • Units: 138
  • Price Per Unit (PPU): $226,449

Otto Ozen, representing The Mogharebi Group (TMG), advised the seller in the sale of Citrus Court. The deal's completion within a relatively short timeframe demonstrates Ozen's expertise and efficient handling of the transaction. The market appeal of Whittier, due to its affordability, quality education institutions, and access to employment opportunities, attracted investors to this multifamily property.

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Otto Ozen's profile picture
Otto Ozen
The Mogharebi Group-image
Executive Vice President
$425.2M Sold

Details

Deal Summary
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SOLD
IMAGE: Otto Ozen DATE: 09/05/2023 ADDRESS: 8121 Broadway Avenue MARKET: Whittier ASSET TYPE: Multifamily BROKER: Otto Ozen - The Mogharebi Group SALE PRICE: $31,250,000 UNITS: 138 ~ PPU: $226,449 NOTE: The Mogharebi Group (TMG) has facilitated the $31.25 million sale of Citrus Court, a 138-unit apartment community in Whittier, CA, overcoming challenges related to a ground lease. TMG's Otto Ozen advised the seller, closing the deal in 90 days, as investors are increasingly drawn to Whittier for its affordability, good schools, and proximity to employment hubs.

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Address8121 Broadway Avenue

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