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7/22/26
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In a Fresno multifamily trade, Maroa Park Apartments, a 248-unit community, was purchased by a private investor for $44 mil ($177.4k/unit). The asset, located at 475-585 West Sierra Ave, was sold by JBT Property Management.
Maroa Park Apartments is ideally located near State Route 99, providing convenient access to neighboring communities, including Bakersfield and Northern California markets. The property consists of one-bedroom and two-bedroom units with average unit size of 878 sf.
The community benefits from immediate income upside through operational efficiencies while benefiting from strong in place market fundamentals, relative affordability, and a strategic Central Valley location that continues to support long-term population and employment growth.
Executive Vice President Otto Ozen, Senior Vice President Brian Nakamura and Senior Vice President Nazli Santana with The Mogharebi Group represented the seller in the deal.
“As a first-time-on-the-market property since its construction in 1986, the asset offered a rare opportunity to acquire a well-maintained, large-scale property directly from original ownership,” said Nakamura. “With its substantial unit count in a supply constrained market, the property immediately enhances the buyer’s regional presence—supporting stronger operational alignment, improved management efficiency, and meaningful performance gains, all without requiring significant capital investment.”
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