Investor demand for multifamily assets continue to grow in Southern California’s Inland Empire
Charlmont Village Townhomes, Ontario, Ca
COSTA MESA, Calif. – May 18, 2022 – PRLog — The Mogharebi Group (TMG) representing the seller has arranged the $23.935 million sale of Charlmont Village Townhomes, a 55-unit property in the Inland Empire city of Ontario, CA. The buyer of the nearly 100 percent occupied property is a private investment group from Beverly Hills, CA.
Built in 1984, Charlmont Village Townhomes offers two-, three-, and four-bedroom units that include attached two-car garages and large fenced yards. Spanning 12 buildings, the residences feature spacious, townhome-style floor plans with units averaging 1,102 square feet. Community amenities at the 3.57-acre property include a swimming pool, spa and lush landscaping.
Located at 1625 E. G St., Charlmont Village Townhomes is approximately 40 miles east of downtown Los Angeles, and offers easy access to the 10 Freeway and Ontario International Airport. The community is situated close to employment hubs and Ontario Mills, California’s largest outlet / value retail shopping destination.
The Charlmont Village Townhomes sales price of more than $436,000 per unit represented a 65% increase over last year’s per unit median price of $283,329, according to TMG research, and is indicative of the increasing investor appetite for multifamily assets in The Inland Empire. In fact, the Inland Empire earned the top spot nationally in multifamily ‘buy’ recommendations, according to 2022 Emerging Trends in Real Estate published by PwC and the Urban Land Institute.
“The median sales price for a single-family home in Ontario has risen 20 percent in one year to around $627,000, meaning more housing demand switching over to the rental market, which puts quality properties like Charlmont Village Townhomes even more in the spotlight,” said TMG Executive Vice President Otto Ozen. “Charlmont received a lot of investor interest because of those market dynamics, as well as its great location, value-add potential, and condo mapped exit strategy. Through our proprietary 1031 exchange platform that includes a robust network of private, high net-worth and exchange buyers, we were able to drive the value and successfully go non-contingent on day-one.”
No Inland Empire city had a higher ‘housing needs assessment’ allocation than Ontario, which trailed only three Southern California cities – Los Angeles, Long Beach and Irvine – in the measure of how many residential units are needed to adequately address the housing imbalance, according to Ozen.
About The Mogharebi Group
The Mogharebi Group is one of the largest multifamily brokerage firms in the United States by volume. With offices throughout California, Seattle and Salt Lake City, The Mogharebi Group offers private investors and investment funds deep local market knowledge, an extensive global network of top real estate investors, state-of-the-art technology and direct access to capital with over $800 million in regularly revolving inventory. For more information visit: http://www.Mogharebi.com.
DB&R Marketing Communications, Inc.
Taps Veteran Brokers Robert Parmar and Ryan Kidwell to Lead Pacific Northwest Expansion for Costa Mesa, CA-based multifamily brokerage firm
Robert Parmar, The Mogharebi Group
COSTA MESA, Calif. – Aug. 16, 2021 – PRLog — The Mogharebi Group, one of California’s leading multifamily brokerage and advisory firms has established its first office in Seattle under the direction of veteran brokers Robert Parmar and Ryan Kidwell, who have joined the firm to lead its expansion into the Pacific Northwest.
The Seattle office marks the second of five new Western U.S. markets that The Mogharebi Group plans to enter over the next three years, following the opening of the Salt Lake City office in April 2021.
“We are seeing a substantial increase in demand from our clients for multifamily properties in Seattle,” said founder Alex Mogharebi. “The Pacific Northwest is going through a significant growth spurt and is largely viewed as a more attractive alternative to the Southwest in terms of affordability and lifestyle. Our new Seattle office will be the point of expansion for our coverage in the Pacific Northwest as an increasing number of our clients are demanding our services. Robert and Ryan share our business philosophy, which is why they are a perfect fit to lead the office in Seattle.”
Parmar joins The Mogharebi Group from Summerfield Companies, which he founded more than 20 years ago. He has established a remarkable reputation with his clients through overseeing all aspects of new business development, including investment, brokerage, and management in multifamily assets.
Kidwell brings more than 15 years of commercial real estate investment experience to The Mogharebi Group, most recently as Managing Broker at Summerfield Companies alongside Parmar, where he managed the sales team as they brokered the purchase and sale of large multifamily investments.
“Our goal is to help our clients through The Mogharebi Group’s full-service advisory platform,” says Parmar. “Having a team of motivated, reliable self-starters combined with an integrated shared platform, while utilizing quality-control methods allows us to meet and exceed each client’s investment goals and cultivate wealth creation that’s available in the Pacific Northwest.”
Founded in 2016 by Alex Mogharebi, one of the top producing multifamily brokers in the U.S., The Mogharebi Group is a vertically integrated real estate services firm specializing in multifamily investment sales, financing, and advisory services. In its brief five-year history, the firm has closed in excess of $8 billion in transactions representing more than 75,000 apartment units throughout California with close to $1 billion in exclusively listed revolving inventory.
About The Mogharebi Group
The Mogharebi Group (http://www.Mogharebi.com) is a real estate investment and advisory firm specializing in the multifamily property sector throughout California. With unparalleled market knowledge, an extensive global network of top real estate investors, state-of-the-art technology, and direct access to capital, The Mogharebi Group is the best choice to meet the needs of major private investors and investment funds.
DB&R Marketing Communications, Inc.