The asset involved in this transaction is a multifamily property located at 367 North Union Road in Manteca, California. The transaction was completed with a sale price of $15,600,000, encompassing 56 units. The property was constructed in 1985 and features amenities such as a pool and a tennis court, positioning it favorably amid rising housing demand in the Central Valley due to its strong rental demand and proximity to major job centers and transit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,600,000
• Units: 56
• Price Per Unit: $278,571
• Buyer's Representative: Levin Johnston of Marcus & Millichap
• Seller's Representatives: Stephen Jackson & Joe Owens - Marcus & Millichap

Marcus & Millichap facilitated the sale of the property, reflecting the ongoing interest in multifamily residential assets in the region. The buyer was guided by Levin Johnston, while Stephen Jackson and Joe Owens represented the seller, ensuring a smooth transaction between the parties involved.