Hardt Investments sold Tyner Ranch Apartments in Bakersfield California to a Modesto-based private investment group for $31 million. The 168-unit multifamily community is fully occupied.
Built in 2006-2007, Tyner Ranch Apartments feature two and three-bedroom floorplans ranging in size from 788 to 1,193 square feet. The single-family-residential-style apartment homes include fully equipped kitchens, attached garages and private backyards with patios.
California's Central Valley stretches approximately 450 miles from Bakersfield to Sacramento. The 70-city region has an inventory of 1,055 multifamily properties of 50 units or more totaling approximately 123,000 units, according to Yardi Matrix.
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The Mogharebi Group brokered the deal.
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