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Hacienda Heights MF Trades for $34M
The Mogharebi Group (TMG) sold Sagewood Gardens, a 162-unit community for residents 55 and above in Hacienda Heights, CA. An unnamed San Gabriel Valley based private investor paid $34.375 million for the property on Gale Avenue.
Built in 1988, the asset is a one and two-story apartment community comprised of 21 residential buildings totaling 93,930 rentable square feet. The complex is situated on a 5.29-acre site.
TMG’s Alex Mogharebi and Otto Ozen represented the seller, an undisclosed private Los Angeles owner, as well as the buyer.
Ozen says, “The market showed exceptionally strong investment demand for this deal. The driving force was the prime location in the heart of the San Gabriel Valley, as well as the unique unit mix which includes cottages, stable cash flow, strong long-term growth in senior housing, and upside with a value-add program.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


