Date Tree Apartments near American River College sold for $8 million
Age, or a relative lack thereof, proved a popular factor again in a recent multifamily sale. The Date Tree Apartments, near American River College in Sacramento County, sold to an investor from the Central Coast who liked the property’s vintage from the 1980s, said a broker on the deal. “With late ’80s construction, you avoid […]
Villa Serrano apartments in Carmichael sell for $7.3M after electrical upgrades
Though the owner was ready to move on from apartment investing, a common thread to many older apartment sales these days slowed the transaction for Villa Serrano in Carmichael. Broker Tim Swanston of North Coast Commercial said the 1970s-vintage of the electrical panels for the 43-unit property meant upgrades had to be done to satisfy […]
KP International Market owner pivoting into apartment investments with two local purchases
The owner of one of the better-known ethnic grocery stories in the region is moving into multifamily real estate. The Oakland-based owner of KP International Market bought two Sacramento-area properties in recent weeks for $18.25 million combined. “The buyer had cash reserves in the bank that he wanted to place in stable real estate assets […]
Redwood Property buys three Arden-Arcade apartments – Sacramento Business Journal
New apartments are popping up across the Sacramento region, but not everywhere. And investors appear to be noticing where they’re not. Oakland-based Redwood Property Investors LLC has bought three apartment properties in Arden-Arcade alone in recent years, two of them in the last month. In its most recent deal, Redwood Property bought 41-unit The Wright […]
Downtown Sacramento apartments selling for $6.78 million
It’s an increasingly rare find: a Downtown Sacramento apartment property with upside potential for a new owner. Such a description fits 32-unit Capitol Lanai, at 1300-1320 G St., on which a San Diego-based investor is set to close escrow Wednesday for $6.78 million. Joe Ramos, under the name Lanai Investments LP, is the buyer for […]
West Sac apartment/retail building near river sold for $1.4 million
In a West Sacramento neighborhood that’s still emerging, a project of apartments and retail has a new owner. Escrow closed in mid-January for 289 Third St., a building with four apartments and a retail space currently filled by Westside Cafe. Tim Swanston of real estate brokerage North Coast Commercial Inc. in Sacramento said the building […]
Investor buys two apartment complexes for more than $9million
“Two property sales in the Bay Area — totaling 10 residential units — allowed an investor to purchase 85 multifamily units in the Sacramento market. A pair of 1031 exchanges gave the unnamed buyer ownership of Orange Grove Apartments near North Highlands and Concord Plaza Apartments near Rosemont. Orange Grove is 46 units and sold […]
Four multifamily sales, all off-market, total $35.5 million
After closing four multifamily property sales in off-market deals at the end of May, senior vice president Tim Swanston of North Coast Commercial Inc. said the buyer appetite for such properties hasn’t abated. The four properties, totaling 319 units, sold for a combined $35.5 million, according to Swanston. All four sales were from different buyers and sellers, though all four […]
Apartment on Sinkler Way in Vista sold
The eight-unit apartment at 842 Sinkler Way, Vista 92084, has been sold for $1.04 million. The buyer was Snider Property #2, LLC, with Norman S. Snider and Kimberly M. Snider members, 12538 Poway Road, Poway 92064. The acquisition was financed with a loan of $780,000 from Mission Federal Credit Union. The seller of the property […]
Property in Vista sold
Dave Plutner, broker/owner of DP Properties, represented the buyer of the five-residence property reported in this column Tuesday, June 18. The seller was represented by Timothy Swanston and Kevin Hemstreet, of South Coast Commercial. The property consists of four apartment units and one house at 181 Pala Vista Drive in Vista. The price was $720,000 […]