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Mogharebi Group Arranges $34.4M Sale of Age-Restricted Community in San Gabriel Valley

Sagewood-Gardens-Hacienda-Heights-CA

Sagewood Gardens in Hacienda Heights, Calif., features 162 apartments for residents age 55 or older.

HACIENDA HEIGHTS, CALIF. — The Mogharebi Group (TMG) has brokered the sale of Sagewood Gardens, an age-restricted community located on Gale Avenue in Hacienda Heights. A San Gabriel Valley-based private investor acquired the asset from a Los Angeles-based private owner for $34.4 million.

Built in 1988, Sagewood Gardens is a one- and two-story apartment community comprising 21 residential buildings totaling 93,930 rentable square feet. Situated on 5.3 acres, the property features 162 apartments in a mix of one- and two-bedroom layouts, as well as a detached single-family residence. The property is restricted to residents age 55 or older. On-site amenities include a fitness facility, resident lounge with media room, covered parking and an activity center.

Alex Mogharebi and Otto Ozen of TMG represented the seller and the buyer in the deal.

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