Mogharebi Group Closes San Diego-Area Sale
- Jun 12, 2020
The Mogharebi Group has completed the $8.6 million sale of Willow Creek, a 33-unit community in El Cajon, Calif. President Alex Mogharebi and Executive Vice President Otto Ozen represented the seller. Both parties are private investors based in Southern California.
According to public records, the buyer completed the transaction with acquisition financing provided by Capital One. Located at 8410 Los Coches Road, the 1987-built property previously changed hands for $6.3 million in 2015, PropertyShark data shows.
The two-building Willow Creek is situated on a 1.1-acre site and comprises two- and three-bedroom apartments with quartz countertops, stainless steel appliances, A/C, new flooring and in-unit washer/dryers. The property features a swimming pool and covered parking. The surrounding area has several retail and dining options including East County Square, which is within walking distance. The asset is 5 miles from downtown El Cajon and 2 miles from Kaiser Permanente Bostonia Medical Offices, while San Diego is an 18-minute drive away.
In April, Mogharebi and Ozen brokered the sale of Cinnamon Ridge in Ontario, Calif. The 101-unit affordable senior housing community traded for $15.5 million.