Ridge Capital Investors Sells 121-Unit Ukiah Portfolio For $23.5 Million With Northmarq Rep

The asset involved in the transaction is a multifamily property portfolio known as the Ukiah Portfolio, which includes Sierra Sunset Village and Alderwood Apartments. It is located at 531 Capps Lane, 1416 & 1450 South State Street in Ukiah, California. The sale price for the portfolio was $23,500,000, encompassing a total of 121 units, resulting in a price per unit of $194,215.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $23,500,000
• Address: 531 Capps Lane, 1416 & 1450 South State Street
• Market: Ukiah, CA
• Units: 121
• Price Per Unit: $194,215
• Seller: Ridge Capital Investors
• Brokers: Anthony Pappageorge & Zach LeBeouf - Northmarq

The transaction was facilitated by Northmarq's Walnut Creek team, which was led by brokers Zach LeBeouf and Anthony Pappageorge. They represented the seller, Ridge Capital Investors. The multifamily properties are positioned to provide further upside potential through ongoing renovations and below-market rents along with strong local rent growth.