Sacramento-Area Community Changes Hands

MJD Capital Partners paid more than $8 million for the 66-unit, Class C multifamily asset, situated 10 miles northeast of the city’s downtown.
Jefferson Place

The Jacobson Co. has sold Jefferson Place, a 66-unit community near Sacramento, Calif., for $8.3 million to MJD Capital Partners, Yardi Matrix data shows. In November, Pacific American sold a 95-unit, fully affordable community—only 3 miles to the east from the Class C property—to a joint venture.

Located at 2405 Walnut Ave. in Carmichael, Jefferson Place is situated roughly 10 miles northeast of downtown Sacramento. The community is within 2 miles of a number of retail centers and Interstate 80 runs a short distance to the north, linking the area with San Francisco. Nearby public transportation stops connect the area with the metro.

As of October, the seven-building asset was 97 percent occupied, per Yardi Matrix data. The community contains a mix of one- and two-bedroom apartments, with floorplans ranging from 550 to 800 square feet. Jefferson Place’s amenities include a swimming pool, spa, laundry facilities, clubhouse and barbecue area. 

Image courtesy of Yardi Matrix