Updated Jan 21, 2025
Marcus & Millichap Arranges $34M Sale Of Multifamily Properties In Pleasanton And Alameda
2451 Santa Rita Road & 1701 Shore Line Drive
$34,000,000
Units
111
Asset Type
MultiFamily
Closing
Jan 17, 2025
About this deal
AI
The sale involved two multifamily properties in Alameda County, comprising the 73-unit Vista Del Sol in Pleasanton and the 38-unit Islander Apartments in Alameda. The transaction reached a total sale price of $34 million, with the price per unit averaging $306,306. The properties are situated in the Pleasanton and Alameda markets.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $34,000,000
- Units: 111
- Location: 2451 Santa Rita Road & 1701 Shore Line Drive
- Market: Pleasanton & Alameda
Adam Levin of The Levin Johnston - Marcus & Millichap facilitated the arrangement of this deal, representing both the buyers and sellers throughout the transactions. The firm capitalized on the increasing investment activity within the region, successfully navigating the sale of both properties.
Players
Pleasanton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93