Eagle Rock apartment complex sells for $15.5 million – Daily News

on Jan31
by | Comments Off on Eagle Rock apartment complex sells for $15.5 million – Daily News |

The Mogharebi Group, a multifamily brokerage firm, has completed the sale of a 50-unit apartment community in Eagle Rock.

The property drew multiple offers and sold for $15.5 million, or $310,000 per unit. Mogharebi Senior Advisor Nazli Santana and Otto Ozen, the company’s executive vice president, represented the seller, a Los Angeles-based private investor. The buyer was a privately held investment group based out of Los Angeles.

“Due to below market rents, a highly desirable location, a strong unit mix and a low unit-to-land ratio, Yosemite Apartments presented a tremendous value-add and development opportunity,” Santana said. “Consequently, the buyer pool was significant and diverse.”

Built in 1951, Yosemite Gardens is a two story, 50-unit apartment community that includes three buildings with 42,900 square feet of rentable space. The building is situated on a two-acre site. The complex features spacious two-bedroom, one-bath units, as well as one-bedroom, one bath units that average 858 square feet. The property includes outdoor picnic areas, dog runs and detached garages.

Mogharebi Group specializes in the multifamily property sector throughout California.



Previous postLA Man Accused of Hate Crime Attacks – NBC Los Angeles Next postTwo LA Residents on Probation After Taking English Tests for Chinese Nationals – NBC Los Angeles


Los Angeles Financial times


Copyright © 2022 Los Angeles Financial times

Updates via RSS
or Email