SANTA ANA, Calif.–(BUSINESS WIRE)–#Apartments–The Mogharebi Group (“TMG”) has completed the sale of The Standard Apartments, a 24-unit community in Santa Ana. The property sold for $4,425,000 with multiple offers. Mike Marcu of The Mogharebi Group represented the seller, a Southern California based investor.
“The property is 100% occupied with strong cash flow and value-add upside. As a result, this Central Orange County community presented tremendous upside value, and perfectly fit the buyer’s investment criteria,” said Mike Marcu, Senior Vice President of The Mogharebi Group. “However, it was our proprietary 1031 exchange platform of private high net-worth and exchange buyers that ultimately drove up the price, and procured a private investor from Southern California who was in a 1031 Exchange and closed in seven days.”
Built on a 15,864 sf site in 1958, The Standard Apartments is located at 931 & 935 South Standard Avenue in Santa Ana. The property is walking distance to numerous retail shopping plazas, restaurants, Santa Ana College, Kennedy Elementary School, and Century Park High School.
About The Mogharebi Group (TMG): The Mogharebi Group is a brokerage firm specializing in the multifamily property sector throughout California. With unrivaled local knowledge, an extensive global network of top real estate investors, state of the art technology, and direct access to capital, The Mogharebi Group is the best choice to meet the needs of major private investors and investment funds.
For more information visit: Mogharebi.com