Sacramento Multifamily Asset Commands $14M
- Oct 25, 2018
IDS Real Estate Group has acquired Arbor Walk, a 76-unit Class B community in Sacramento, Calif., for $14.1 million from JCM Partners, according to Yardi Matrix. HFF provided a 10-year, $7.6 million Freddie Mac mortgage to the buyer.
JCM recently sold another asset 7 miles south—the 417-unit River Blu—to 29th Street Capital for $61 million. Following the two sales, the firm has exited the Sacramento market.
Located at 3910 Auburn Blvd. in the city’s Mira Loma/Marconi submarket, the garden-style community’s 10 two-story buildings are positioned near the intersection of Interstate 80 and the Capital City Freeway. A public bus route connects the property to the rest of the city, with Sacramento’s downtown district 9 miles away. A number of retail properties and the 146-acre Del Paso Regional Park are in the immediate area.
The community contains 20 one- and 56 two-bedroom units, with an average floor plan of 817 square feet. Amenities include a swimming pool, two laundry facilities and covered parking. The property was 96.1 percent occupied as of September, per Yardi Matrix data.
Image courtesy of Yardi Matrix