Eviva Midtown Trades for Record Price
Eviva Midtown, a 118-unit certified CalGreen construction, was sold to Sequoia Equities for the highest price per unit ever paid for a multifamily asset in the region.
By Evelyn Jozsa
Eviva Midtown
Sequoia Equities purchased Eviva Midtown, a six-story, 118-unit, trophy apartment community in Sacramento, for $53 million or $450,000 per unit. The property commanded the highest price per unit ever paid for a multifamily sale in the region. Marc Ross of CBRE worked on behalf of the project’s developer and seller, The Integral Group LLC, and its investment partner, LDK Ventures.
Eviva Midtown is situated at 1531 N. St., along the 16th Street corridor, where downtown and midtown Sacramento intersect. The property was built in 2016 and features certified CALGreen modular construction. Eviva Midtown offers Class A apartments that offer gourmet kitchens with stainless steel appliances, in-unit washer and dryer, and oversized windows providing views of the downtown area and Capitol Park.
Common amenities include:
- 24-hour fitness center
- community lounge
- entertaining kitchen
- courtyard with fire pit
- barbecue
- enclosed parking garage with controlled access
The city’s central business district as well as several coffee shops, restaurants and bars are less than a mile away.
“With its irreplaceable location and high-end construction and design, EVIVA Midtown is well-positioned to be a signature property within the urban core of Sacramento for many years to come,” said Marc Ross, senior vice president of CBRE, in prepared remarks.
Image courtesy of Yardi Matrix
