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

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.