March 21, 2017 Comments Off on Anaheim Value-Add Trades for $23M Views: 429 California News, Orange County

Anaheim Value-Add Trades for $23M

The Mogharebi Group (TMG) completed the sale of ECHO Apartment Homes, a 116-unit apartment complex in Anaheim, CA. The property was acquired from a Santa Monica-based private equity real estate firm by a San Gabriel Valley-based private investment group for $22.5 million.

TMG’s Alex Mogharebi, Otto Ozen and Mike Marcu represented both buyer and seller. Mogharebi said, “Due to the location and quality of this property, coupled with the proven value-add program, the potential buyer pool was significant in size.”

Built on 1.5-acres site in 1969 and 1970, the property is at 1727 West Glenoaks Ave. The asset features amenities such as a large outdoor pool with a barbecue picnic area, tennis court, two laundry centers, state-of-the-art fitness center, reserved subterranean parking, and controlled access.

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