The Mogharebi Group Secures $16.5 Million for Sale of Bakersfield, CA Apartment Community

BAKERSFIELD, Calif. - March 6, 2024 - PRLog -- The Mogharebi Group (TMG) has arranged the $16.5 million sale of Vantage Point Apartments, a 144-unit multifamily community in Bakersfield, CA. Senior Vice President Mark Bonas represented the buyer, a Central Valley-based investor, in the off-market transaction.

With the closing of Vantage Point, TMG has been responsible for the sale of the two largest multifamily transactions in Bakersfield since the beginning of 2023. Bonas helped facilitate the sale of Cedar Oaks, a 98-unit multifamily community for $13.6 million back in October, which was also purchased by the same buyer.

"Our buyer has been very active in the Central Valley with this marking their third acquisition in Bakersfield over the last 18 months," said TMG's Bonas. "All of their acquisitions were smooth transactions without any speedbumps in financing, proving that even in these tough market conditions, well capitalized buyers can still obtain loans without any issues."

Built in 1985, the garden style community sits on 6.31 acres of land at 6001 Auburn St. The property is comprised of one- and two-bedroom units ranging from 597 to 805 square-feet. Amenities include large closets, ceiling fans, heated pool, laundry facilities, and gated access.

As a leader in multifamily investment advisory since its founding in 2015, The Mogharebi Group has been especially active in the Central Valley—closing on more than 10,000 units in the region with total value exceeding $1 billion.

About The Mogharebi Group
The Mogharebi Group (http://www.mogharebi.com) is a leader in real estate investment and advisory, specializing in the multifamily property sector throughout the Western U.S. with nationwide reach. Backed by unparalleled local market knowledge, an extensive global network of top real estate investors, state-of-the-art technology, and direct access to capital with over $850 million in revolving inventory, The Mogharebi Group is the best choice to meet the needs of major private investors and investment funds.