**Mogharebi Group Brokers $34.6M Sale of Willow Grove Apartments in Modesto**
The Mogharebi Group has facilitated the $34.6 million sale of Willow Grove Apartments, a 158-unit multifamily community located at 3400 Coffee Road in Modesto, California. The seller, a privately held Northern California-based real estate investment firm, had owned the property since 2017. The firm elected to divest the asset as part of a broader strategy to diversify its portfolio beyond the California market.
“High costs in coastal California cities have resulted in a regional migration to more affordable inland locations like Modesto, especially in today’s hybrid-work environment,” said Otto Ozen, Executive Vice President at The Mogharebi Group. “This trend has increased demand in a supply-constrained market, making areas such as Modesto, Manteca, Ripon, and Turlock attractive to multifamily investors. Additionally, Willow Grove offered a strong value-add opportunity through common area enhancements and unit renovations.”
Ozen, along with Nazli Santana and Brian Nakamura, represented the seller in the transaction.
Originally built in 1990, Willow Grove Apartments consists of 18 two- and three-story buildings featuring one- and two-bedroom units. Unit sizes range from approximately 700 to 900 square feet.
