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 for $4.775 million in September, while Concord Plaza is 39 units and sold for $4.29 million last week.

Tim Swanston, a senior vice president with North Coast Commercial Inc. in Sacramento, brokered both deals. The buyer sold a Martinez condominium, Alamo rental house and an eight-unit apartment building in Concord on the front half of the two exchange deals, he said.”

Source – https://www.bizjournals.com/sacramento/news/2017/12/18/investor-buys-two-apartment-complexes-for-more.html 

 

About US

North Coast Commercial is a specialized commercial brokerage and asset management company. NCC provides unparalleled performance to landlords, tenants, buyers and sellers of commercial properties.

Our team is dedicated to creating defined investment strategies for commercial real estate portfolio development with an emphasis on security and solvency.

Contact Us

North Coast Commercial, Inc.
608 University Ave
Sacramento, CA 95825

office: 916-979-9930