SAN BERNARDINO, CALIF. — The Mogharebi Group has arranged the sale of Country Club Apartments, a 79-unit seniors housing community in San Bernardino.
The buyer and seller were both private investment groups based in Los Angeles. The property sold for $18 million, or $228,000 per unit.
“Due to the proven value-add upside, and close proximity to San Bernardino’s largest employers, the buyer pool was large,” says Otto Ozen, executive vice president of TMG.
Ozen and Alex Mogharebi of TMG represented the seller in the transaction.
Built in 1986, Country Club Apartments is a two-story community comprising 71,428 square feet of rentable space. The complex is situated on a 5.4-acre site. Country Club Apartments features two-bedroom floor plans with an average size of 903 square feet.