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Visalia Res Community Traded in $42.5 Mil Transaction

11/04/20

Oak View Apartments, a 237-unit residential community in Visalia, was acquired by a private investor in a recent $42.5 mil ($179.3k/unit) deal. The property, built in 1990, was sold by IDEAL Capital Group.

Oak View Apartments sits on a 16.46-acre site at 4700 W Caldwell Ave. The property comprises 48 buildings totaling 209.6k sf of space with spacious one, two- and three-bedroom floor plans averaging 884 sf in size. Featuring two large, sparkling outdoor pool and spas, two playgrounds, three laundry centers, business center, fitness center, basketball/volleyball courts, reserved covered parking and garages, the community is adjacent to Linwood Elementary School, La Joya Middle School and is within a 30- to 60-minute commute to over 661,000 jobs.

Alex Mogharebi, Otto Ozen, Robin Kane, Brendan Kane and Mark Bonas of The Mogharebi Group represented the seller in the transaction. According to Ozen, the buyer, an exchange investor, plans to continue with the current value-add renovations already started at the property.




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