Marcus & Millichap Sells Manteca Golf & Tennis Villas Multifamily Property For $15.6M

The asset involved in this transaction is a multifamily property located at 367 North Union Road in Manteca, California. This property consists of 56 units and was sold for a total of $15,600,000, resulting in a price per unit of $278,571. The property is noted for its strategic location amid regional job growth and housing shortages, making it an appealing investment opportunity. Amenities include a pool and a tennis court, and it benefits from its proximity to major highways and local amenities.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $15,600,000
• Units: 56
• Price Per Unit: $278,571
• Address: 367 North Union Road
• Market: Manteca

The deal was facilitated by Stephen Jackson and Joe Owens, who represented the interests of Marcus & Millichap in this transaction. Their involvement highlights the expertise and strategic approach of the brokerage firm in handling multifamily properties. The sale indicates a focus on utilizing local market insights to facilitate successful transactions in an expanding market.