Shawn Bolour Of The Mogharebi Group Represents Seller In $11.8M Bakersfield Multifamily Sale

The asset involved in this transaction is a multifamily development located at 1125 California Avenue in Bakersfield. The property, which is designated as a Low Income Housing Tax Credit (LIHTC) asset, comprises 180 units. The sale concluded at a price of $11,800,000, resulting in a price per unit of $65,555. The total square footage of the property is 107,625, translating to a price per square foot of $109.

Summary of transaction details:

• Property Type: Multifamily (LIHTC)
• Transaction Amount: $11,800,000
• Units: 180
• Price Per Unit: $65,555
• Square Footage: 107,625
• Price Per Square Foot: $109
• Seller's Representative: Shawn Bolour - The Mogharebi Group

Shawn Bolour from The Mogharebi Group represented the seller in this transaction. The deal highlights the involvement of professional brokerage services in the multifamily sector.